Diamond Offshore Drilling Inc (DO) Expected to Earn Q1 2018 Earnings of ($0.04) Per Share

Diamond Offshore Drilling Inc (NYSE:DO) – Investment analysts at B. Riley cut their Q1 2018 earnings estimates for Diamond Offshore Drilling in a report issued on Tuesday. B. Riley analyst T. Curran now expects that the offshore drilling services provider will post earnings of ($0.04) per share for the quarter, down from their previous forecast of $0.01. B. Riley currently has a “Hold” rating and a $13.00 price target on the stock. B. Riley also issued estimates for Diamond Offshore Drilling’s Q2 2018 earnings at ($0.04) EPS, Q4 2018 earnings at $0.01 EPS, FY2018 earnings at ($0.03) EPS, Q3 2019 earnings at $0.01 EPS and Q4 2019 earnings at $0.01 EPS.

DO has been the topic of several other research reports. ValuEngine raised shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Clarkson Capital cut shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research note on Thursday, January 18th. Zacks Investment Research cut shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Cowen set a $18.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada set a $19.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Thursday, December 21st. Twelve equities 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. Diamond Offshore Drilling presently has an average rating of “Hold” and a consensus price target of $14.59.

Diamond Offshore Drilling (NYSE:DO) opened at $14.21 on Thursday. The stock has a market cap of $1,933.54, a price-to-earnings ratio of 101.51 and a beta of 1.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.97. Diamond Offshore Drilling has a 1-year low of $10.06 and a 1-year 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $346.20 million during the quarter, compared to the consensus estimate of $331.98 million. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share.

In other news, Director Charles Fabrikant sold 1,500 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $18.55, for a total transaction of $27,825.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $18,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC bought a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $752,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Diamond Offshore Drilling by 331.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock worth $142,000 after purchasing an additional 5,872 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Diamond Offshore Drilling by 139.5% during the 4th quarter. Guggenheim Capital LLC now owns 212,388 shares of the offshore drilling services provider’s stock worth $3,948,000 after purchasing an additional 123,724 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $7,814,000. Finally, Orbis Allan Gray Ltd bought a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $7,542,000.

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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.

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

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