Equities analysts predict that Diamond Offshore Drilling Inc (NYSE:DO) will post earnings per share of ($0.77) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Diamond Offshore Drilling’s earnings, with the lowest EPS estimate coming in at ($0.95) and the highest estimate coming in at ($0.43). Diamond Offshore Drilling reported earnings per share of ($0.33) in the same quarter last year, which indicates a negative year-over-year growth rate of 133.3%. The firm is scheduled to issue its next quarterly earnings results on Monday, July 29th.
According to Zacks, analysts expect that Diamond Offshore Drilling will report full-year earnings of ($2.23) per share for the current financial year, with EPS estimates ranging from ($2.66) to ($1.39). For the next fiscal year, analysts forecast that the business will post earnings of ($1.78) per share, with EPS estimates ranging from ($2.15) to ($1.50). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Diamond Offshore Drilling.
Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.53) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.06. The company had revenue of $223.50 million during the quarter, compared to the consensus estimate of $231.90 million. Diamond Offshore Drilling had a negative net margin of 26.72% and a negative return on equity of 5.84%. The company’s quarterly revenue was down 24.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.16) EPS.
DO has been the subject of several research reports. Clarkson Capital lowered Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research report on Friday, April 12th. Pareto Securities raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Monday, January 28th. ValuEngine lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Barclays raised Diamond Offshore Drilling from an “underweight” rating to an “overweight” rating and set a $10.29 price target on the stock in a research note on Wednesday, February 20th. Finally, Zacks Investment Research lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Seven analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.63.
In related news, Director Paul G. Gaffney bought 4,000 shares of the stock in a transaction dated Monday, February 25th. The shares were purchased at an average price of $9.91 per share, with a total value of $39,640.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Diamond Offshore Drilling in the 1st quarter worth $36,000. Advisor Group Inc. boosted its stake in shares of Diamond Offshore Drilling by 108.3% during the 4th quarter. Advisor Group Inc. now owns 3,577 shares of the offshore drilling services provider’s stock worth $35,000 after acquiring an additional 1,860 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Diamond Offshore Drilling by 111.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,681 shares of the offshore drilling services provider’s stock worth $44,000 after acquiring an additional 2,468 shares in the last quarter. US Bancorp DE boosted its stake in shares of Diamond Offshore Drilling by 33.6% during the 1st quarter. US Bancorp DE now owns 5,354 shares of the offshore drilling services provider’s stock worth $56,000 after acquiring an additional 1,346 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Diamond Offshore Drilling during the 4th quarter worth about $61,000.
Shares of NYSE DO traded down $0.05 during mid-day trading on Thursday, reaching $9.66. 146,402 shares of the company’s stock traded hands, compared to its average volume of 2,916,600. The stock has a market capitalization of $1.33 billion, a P/E ratio of -8.26 and a beta of 1.57. Diamond Offshore Drilling has a 1-year low of $8.71 and a 1-year high of $21.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 2.68.
About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
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