FBR Capital Markets began coverage on shares of Diamond Offshore Drilling (NYSE:DO) in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm issued an underperform rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Diamond Offshore Drilling from a neutral rating to an underperform rating in a research note to investors on Thursday, November 21st. They now have a $56.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a buy rating on shares of Diamond Offshore Drilling in a research note to investors on Sunday, October 27th. They now have a $76.00 price target on the stock. Finally, analysts at Barclays cut their price target on shares of Diamond Offshore Drilling from $85.00 to $79.00 in a research note to investors on Friday, October 25th. They now have an underweight rating on the stock. Six investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the stock. Diamond Offshore Drilling has an average rating of Hold and a consensus target price of $72.38.
Shares of Diamond Offshore Drilling (NYSE:DO) opened at 58.87 on Friday. Diamond Offshore Drilling has a one year low of $58.51 and a one year high of $76.85. The stock’s 50-day moving average is $61.03 and its 200-day moving average is $65.42. The company has a market cap of $8.185 billion and a price-to-earnings ratio of 13.38.
Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.04. The company had revenue of $691.00 million for the quarter, compared to the consensus estimate of $753.84 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts predict that Diamond Offshore Drilling will post $4.59 earnings per share for the current fiscal year.
Diamond Offshore Drilling, Inc is a global offshore oil and gas drilling contractor. The Company has a fleet of 44 offshore drilling rigs, consisting of 32 semisubmersibles, seven jack-ups and five dynamically positioned drillships, four of which are under construction.
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