Diamond Offshore Drilling (NYSE:DO) issued its quarterly earnings results on Monday. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01, Bloomberg Earnings reports. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The firm had revenue of $346.20 million for the quarter, compared to analyst estimates of $331.98 million. During the same period last year, the company earned $0.27 EPS. The firm’s quarterly revenue was down 11.7% on a year-over-year basis.
Diamond Offshore Drilling (NYSE DO) opened at $15.14 on Tuesday. The company has a market capitalization of $2,043.32, a PE ratio of 12.41 and a beta of 1.13. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a twelve month low of $10.06 and a twelve month high of $20.41.
In related news, Director Charles Fabrikant sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $18.55, for a total transaction of $27,825.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $18,550. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.03% of the company’s stock.
DO has been the topic of a number of research analyst reports. Zacks Investment Research raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Monday, October 16th. initiated coverage on Diamond Offshore Drilling in a research note on Thursday, October 19th. They issued a “hold” rating and a $15.80 price target on the stock. Cowen set a $11.00 price target on Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Wednesday, October 18th. FBR & Co set a $13.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Monday, October 30th. Finally, Jefferies Group set a $15.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Monday, October 30th. Twelve investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.92.
ILLEGAL ACTIVITY NOTICE: This report was first published by American Banking News and is owned by of American Banking News. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/02/12/diamond-offshore-drilling-do-releases-earnings-results-misses-estimates-by-0-14-eps.html.
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.
Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.