Diamond Offshore Drilling Inc to Post FY2017 Earnings of $0.98 Per Share, Capital One Financial Forecasts (DO)

Diamond Offshore Drilling Inc (NYSE:DO) – Equities research analysts at Capital One Financial decreased their FY2017 earnings per share (EPS) estimates for shares of Diamond Offshore Drilling in a note issued to investors on Monday. Capital One Financial analyst J. Gibney now expects that the offshore drilling services provider will earn $0.98 per share for the year, down from their previous forecast of $1.04. Capital One Financial also issued estimates for Diamond Offshore Drilling’s Q4 2018 earnings at ($0.01) EPS.

Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $346.20 million during the quarter, compared to analyst estimates of $331.98 million. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS.

Other equities research analysts have also recently issued research reports about the stock. UBS Group lifted their price target on shares of Diamond Offshore Drilling from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. TheStreet raised shares of Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Jefferies Group set a $15.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Monday, October 30th. Finally, FBR & Co set a $13.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Monday, October 30th. Twelve research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $14.70.

Shares of Diamond Offshore Drilling (NYSE DO) opened at $14.09 on Wednesday. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $20.41. The stock has a market cap of $1,930.00, a price-to-earnings ratio of 108.38 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.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Diamond Offshore Drilling by 22.0% during the 2nd quarter. BlackRock Inc. now owns 9,209,573 shares of the offshore drilling services provider’s stock worth $99,741,000 after purchasing an additional 1,658,687 shares during the last quarter. Contrarius Investment Management Ltd raised its holdings in shares of Diamond Offshore Drilling by 13.7% during the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock worth $108,925,000 after acquiring an additional 905,595 shares during the period. State Street Corp raised its holdings in shares of Diamond Offshore Drilling by 27.3% during the 2nd quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock worth $32,721,000 after acquiring an additional 648,077 shares during the period. Majedie Asset Management Ltd raised its holdings in shares of Diamond Offshore Drilling by 121.9% during the 3rd quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock worth $37,273,000 after acquiring an additional 1,412,327 shares during the period. Finally, Horseman Capital Management Ltd purchased a new position in shares of Diamond Offshore Drilling during the 3rd quarter worth $30,944,000.

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total transaction of $27,825.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

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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.

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

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