Diamond Offshore Drilling (NYSE: DO)‘s stock had its “neutral” rating restated by equities researchers at Macquarie in a report issued on Friday. They currently have a $76.00 target price on the stock.
Shares of Diamond Offshore Drilling traded down 1.11% during mid-day trading on Friday, hitting $68.91. Diamond Offshore Drilling has a 52 week low of $55.83 and a 52 week high of $76.85. The stock’s 50-day moving average is currently $73.39. The company has a market cap of $9.581 billion and a P/E ratio of 13.45.
Diamond Offshore Drilling last released its earnings data on Tuesday, February 5th. The company reported $1.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.10 by $0.02. The company had revenue of $751.00 million for the quarter, compared to the consensus estimate of $740.00 million. During the same quarter in the prior year, the company posted $1.36 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. On average, analysts predict that Diamond Offshore Drilling will post $4.55 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on DO. Analysts at Guggenheim reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research note to investors on Tuesday, February 19th. They now have a $73.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a research note to investors on Thursday, February 14th. They now have a $79.00 price target on the stock. Finally, analysts at JPMorgan Chase raised their price target on shares of Diamond Offshore Drilling from $80.00 to $84.00 in a research note to investors on Tuesday, February 12th.
Four investment analysts have rated the stock with a buy rating, three have assigned an overweight rating, twenty-six have given a hold rating, two have issued an underweight rating, and three have issued a sell rating to the company. The stock has a consensus rating of “hold” and an average target price of $75.84.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 1st. Stockholders of record on Tuesday, February 19th will be paid a dividend of $0.13 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Thursday, February 14th.
Diamond Offshore Drilling, Inc. (Diamond Offshore) is an offshore oil and gas drilling contractor. Its fleet includes 49 offshore rigs, consisting of 32 semisubmersibles, 13 jack-ups and four positioned drillships, three of which are under construction.
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