Q3 2018 EPS Estimates for Diamond Offshore Drilling Inc (DO) Boosted by Analyst

Diamond Offshore Drilling Inc (NYSE:DO) – Stock analysts at B. Riley upped their Q3 2018 earnings estimates for shares of Diamond Offshore Drilling in a research report issued on Tuesday. B. Riley analyst T. Curran now anticipates that the offshore drilling services provider will earn $0.04 per share for the quarter, up from their previous forecast of $0.03. B. Riley currently has a “Hold” rating and a $13.00 target price on the stock. B. Riley also issued estimates for Diamond Offshore Drilling’s Q1 2019 earnings at $0.02 EPS, Q2 2019 earnings at $0.01 EPS and FY2019 earnings at $0.05 EPS.

Other equities research analysts also recently issued research reports about the company. TheStreet downgraded Diamond Offshore Drilling from a “c-” rating to a “d” rating in a report on Monday. Susquehanna Bancshares set a $15.00 price target on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Tuesday. SEB Equity Research downgraded Diamond Offshore Drilling from a “market perform” rating to an “underperform” rating in a report on Friday, February 9th. Jefferies Group set a $15.00 price target on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Monday, October 30th. Finally, ValuEngine raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Twelve research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. Diamond Offshore Drilling currently has a consensus rating of “Hold” and a consensus target price of $14.59.

Shares of Diamond Offshore Drilling (NYSE:DO) opened at $14.00 on Wednesday. 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 firm has a market capitalization of $1,930.00, a PE ratio of 108.38 and a beta of 1.13. Diamond Offshore Drilling has a twelve month low of $10.06 and a twelve month high of $20.41.

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

A number of hedge funds have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. purchased a new position in Diamond Offshore Drilling during the fourth quarter valued at approximately $245,000. Investors Research Corp purchased a new position in Diamond Offshore Drilling during the fourth quarter valued at approximately $209,000. Allianz Asset Management GmbH raised its position in Diamond Offshore Drilling by 3.3% during the fourth quarter. Allianz Asset Management GmbH now owns 187,903 shares of the offshore drilling services provider’s stock valued at $3,493,000 after acquiring an additional 5,990 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Diamond Offshore Drilling during the fourth quarter valued at approximately $171,000. Finally, UBS Asset Management Americas Inc. raised its position in Diamond Offshore Drilling by 8.2% during 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 acquiring an additional 6,196 shares in the last quarter.

In related news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling 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 completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at $18,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.03% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Q3 2018 EPS Estimates for Diamond Offshore Drilling Inc (DO) Boosted by Analyst” was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/02/14/q3-2018-eps-estimates-for-diamond-offshore-drilling-inc-do-boosted-by-analyst.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.

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

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.

Leave a Reply