Diamond Offshore Drilling (DO) Given a $9.00 Price Target by Piper Jaffray Companies Analysts

Diamond Offshore Drilling (NYSE:DO) has been given a $9.00 price target by investment analysts at Piper Jaffray Companies in a report issued on Monday. The brokerage currently has a “sell” rating on the offshore drilling services provider’s stock. Piper Jaffray Companies’ target price indicates a potential downside of 36.12% from the company’s current price.

A number of other equities analysts have also recently commented on DO. Zacks Investment Research raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Monday, October 16th. initiated coverage on shares of Diamond Offshore Drilling in a research report on Thursday, October 19th. They set a “hold” rating and a $15.80 price objective for the company. Cowen set a $11.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Wednesday, October 18th. FBR & Co set a $13.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Monday, October 30th. Finally, Jefferies Group set a $15.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Monday, October 30th. Twelve equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.70.

Diamond Offshore Drilling (NYSE DO) traded down $1.05 during trading hours on Monday, hitting $14.09. 2,924,286 shares of the company traded hands, compared to its average volume of 1,788,170. Diamond Offshore Drilling has a twelve month low of $10.06 and a twelve month high of $20.41. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2,043.32, a PE ratio of 11.55 and a beta of 1.13.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The firm had revenue of $346.20 million during the quarter, compared to analysts’ expectations of $331.98 million. During the same period in the previous year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. research analysts predict that Diamond Offshore Drilling will post 0.86 EPS for the current year.

In other news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $18.55, for a total value of $27,825.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.03% of the company’s stock.

Several institutional investors have recently made changes to their positions in DO. Victory Capital Management Inc. bought a new stake in shares of Diamond Offshore Drilling in the third quarter valued at about $126,000. M&T Bank Corp acquired a new position in Diamond Offshore Drilling in the second quarter valued at about $139,000. Intl Fcstone Inc. acquired a new position in Diamond Offshore Drilling in the second quarter valued at about $169,000. Itau Unibanco Holding S.A. acquired a new position in Diamond Offshore Drilling in the fourth quarter valued at about $171,000. Finally, Wright Investors Service Inc. acquired a new position in Diamond Offshore Drilling in the fourth quarter valued at about $204,000.

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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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