Diamond Offshore Drilling, Inc. (NYSE:DO) has received a consensus recommendation of “Hold” from the twenty-six brokerages that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $14.41.

Several equities research analysts have commented on the stock. B. Riley reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, November 1st. BidaskClub lowered shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. ValuEngine upgraded shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research note on Friday. UBS raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and raised their price target for the company from $12.00 to $15.00 in a report on Monday, September 25th. Finally, Citigroup downgraded shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and set a $12.00 price target for the company. in a report on Thursday, October 12th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in Diamond Offshore Drilling by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 27,200 shares of the offshore drilling services provider’s stock worth $295,000 after acquiring an additional 400 shares in the last quarter. State Treasurer State of Michigan grew its holdings in shares of Diamond Offshore Drilling by 1.5% during the second quarter. State Treasurer State of Michigan now owns 26,600 shares of the offshore drilling services provider’s stock worth $288,000 after buying an additional 400 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Diamond Offshore Drilling by 0.9% during the second quarter. Texas Permanent School Fund now owns 47,088 shares of the offshore drilling services provider’s stock worth $510,000 after buying an additional 410 shares in the last quarter. Comerica Bank grew its holdings in shares of Diamond Offshore Drilling by 0.8% during the second quarter. Comerica Bank now owns 55,321 shares of the offshore drilling services provider’s stock worth $647,000 after buying an additional 437 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Diamond Offshore Drilling by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 16,800 shares of the offshore drilling services provider’s stock worth $182,000 after buying an additional 500 shares in the last quarter.

Diamond Offshore Drilling (DO) opened at $16.61 on Monday. The stock has a market cap of $2,288.96, a PE ratio of 9.70 and a beta of 1.29. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a 1 year low of $10.06 and a 1 year high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The business had revenue of $366.02 million for the quarter, compared to analysts’ expectations of $365.38 million. During the same quarter last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. research analysts forecast that Diamond Offshore Drilling will post 0.9 earnings per share for the current fiscal year.

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Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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