Diamond Offshore Drilling Inc (DO) Expected to Earn Q4 2017 Earnings of $0.11 Per Share

Diamond Offshore Drilling Inc (NYSE:DO) – Capital One Financial cut their Q4 2017 EPS estimates for Diamond Offshore Drilling in a research note issued to investors on Monday. Capital One Financial analyst J. Gibney now expects that the offshore drilling services provider will post earnings of $0.11 per share for the quarter, down from their previous forecast of $0.17. Capital One Financial also issued estimates for Diamond Offshore Drilling’s Q1 2018 earnings at $0.02 EPS, Q2 2018 earnings at $0.01 EPS, Q3 2018 earnings at $0.02 EPS, FY2018 earnings at $0.05 EPS and FY2019 earnings at ($0.30) EPS.

DO has been the subject of a number of other research reports. ValuEngine raised Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Clarkson Capital cut Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research report on Thursday, January 18th. Zacks Investment Research cut Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. 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. Finally, Royal Bank of Canada set a $19.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Thursday, December 21st. Twelve 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. Diamond Offshore Drilling currently has an average rating of “Hold” and an average price target of $14.92.

Shares of Diamond Offshore Drilling (NYSE DO) opened at $15.14 on Tuesday. The stock has a market capitalization of $2,043.32, a P/E ratio of 8.66 and a beta of 1.13. 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 12-month low of $10.06 and a 12-month high of $20.41.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $346.20 million during the quarter, compared to analysts’ expectations of $331.98 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS.

In other news, Director Charles Fabrikant sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was 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 directly owns 1,000 shares of the company’s stock, valued at $18,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Diamond Offshore Drilling in the fourth quarter valued at $171,000. UBS Asset Management Americas Inc. raised its stake in shares of Diamond Offshore Drilling by 8.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 81,589 shares of the offshore drilling services provider’s stock valued at $1,517,000 after purchasing an additional 6,196 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Diamond Offshore Drilling by 127.6% in the fourth quarter. Schroder Investment Management Group now owns 1,691,100 shares of the offshore drilling services provider’s stock valued at $31,437,000 after purchasing an additional 948,200 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Diamond Offshore Drilling by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,606,269 shares of the offshore drilling services provider’s stock valued at $29,860,000 after purchasing an additional 33,514 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Diamond Offshore Drilling by 26.9% in the fourth quarter. Arizona State Retirement System now owns 46,421 shares of the offshore drilling services provider’s stock valued at $863,000 after purchasing an additional 9,835 shares in 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.

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

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