Brokerages forecast that Diamond Offshore Drilling Inc (NYSE:DO) will report $346.62 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Diamond Offshore Drilling’s earnings, with the highest sales estimate coming in at $368.00 million and the lowest estimate coming in at $339.70 million. Diamond Offshore Drilling reported sales of $391.87 million during the same quarter last year, which indicates a negative year-over-year growth rate of 11.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, February 12th.

According to Zacks, analysts expect that Diamond Offshore Drilling will report full year sales of $346.62 million for the current fiscal year, with estimates ranging from $1.42 billion to $1.50 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.29 billion per share, with estimates ranging from $1.21 billion to $1.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. During the same period in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year.

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

In other news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $18.55, for a total value of $27,825.00. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $18,550. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in shares of Diamond Offshore Drilling in the 3rd quarter valued at about $126,000. Raymond James Trust N.A. bought a new stake in shares of Diamond Offshore Drilling in the 2nd quarter valued at about $118,000. BlueMountain Capital Management LLC bought a new stake in shares of Diamond Offshore Drilling in the 2nd quarter valued at about $119,000. Zacks Investment Management bought a new stake in shares of Diamond Offshore Drilling in the 2nd quarter valued at about $124,000. Finally, Shell Asset Management Co. bought a new stake in shares of Diamond Offshore Drilling in the 3rd quarter valued at about $415,000.

Diamond Offshore Drilling (DO) opened at $19.63 on Friday. Diamond Offshore Drilling has a 52 week low of $10.06 and a 52 week high of $20.41. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. The company has a market cap of $2,644.38, a PE ratio of 11.20 and a beta of 1.29.

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About Diamond Offshore Drilling

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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