Equities analysts predict that Diamond Offshore Drilling Inc (NYSE:DO) will announce earnings of $0.02 per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Diamond Offshore Drilling’s earnings. The highest EPS estimate is $0.17 and the lowest is ($0.14). Diamond Offshore Drilling posted earnings of $0.85 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 97.6%. The firm is expected to report its next quarterly earnings results on Monday, February 12th.

According to Zacks, analysts expect that Diamond Offshore Drilling will report full-year earnings of $0.87 per share for the current financial year, with EPS estimates ranging from $0.71 to $1.04. For the next year, analysts anticipate that the business will post earnings of ($0.01) per share, with EPS estimates ranging from ($0.31) to $0.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The company had revenue of $366.02 million for the quarter, compared to the consensus estimate of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. Diamond Offshore Drilling’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share.

A number of analysts have commented on the company. B. Riley reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. Clarkson Capital downgraded Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research report on Thursday. Cowen set a $18.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Thursday, January 11th. Susquehanna Bancshares set a $17.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Friday, January 12th. Finally, Piper Jaffray Companies reiterated an “underweight” rating on shares of Diamond Offshore Drilling in a research report on Thursday, January 11th. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $15.01.

Diamond Offshore Drilling (NYSE DO) traded up $0.49 on Thursday, reaching $19.76. The company’s stock had a trading volume of 1,790,600 shares, compared to its average volume of 1,463,146. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58. The stock has a market capitalization of $2,710.00, a P/E ratio of 16.33 and a beta of 1.28. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $20.41.

In other news, Director Charles Fabrikant sold 1,500 shares of the company’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at $18,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in Diamond Offshore Drilling by 0.8% in the second quarter. Comerica Bank now owns 55,321 shares of the offshore drilling services provider’s stock valued at $647,000 after purchasing an additional 437 shares during the last quarter. Legal & General Group Plc increased its stake in Diamond Offshore Drilling by 0.3% in the second quarter. Legal & General Group Plc now owns 200,738 shares of the offshore drilling services provider’s stock valued at $2,175,000 after purchasing an additional 671 shares during the last quarter. Energy Opportunities Capital Management LLC increased its stake in Diamond Offshore Drilling by 2.2% in the second quarter. Energy Opportunities Capital Management LLC now owns 137,465 shares of the offshore drilling services provider’s stock valued at $1,489,000 after purchasing an additional 2,950 shares during the last quarter. Rhumbline Advisers increased its stake in Diamond Offshore Drilling by 2.3% in the third quarter. Rhumbline Advisers now owns 137,428 shares of the offshore drilling services provider’s stock valued at $1,993,000 after purchasing an additional 3,069 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Diamond Offshore Drilling by 7.2% in the third quarter. Mutual of America Capital Management LLC now owns 50,486 shares of the offshore drilling services provider’s stock valued at $732,000 after purchasing an additional 3,389 shares during the last quarter.

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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.

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Earnings History and Estimates for Diamond Offshore Drilling (NYSE:DO)

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