Diamond Offshore Drilling (NYSE:DO) was upgraded by equities researchers at Guggenheim from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Wunderlich reiterated a “buy” rating on shares of Diamond Offshore Drilling (NYSE:DO) in a research note to investors on Monday. They now have a $90.00 price target on the stock. Separately, analysts at Susquehanna cut their price target on shares of Diamond Offshore Drilling (NYSE:DO) from $73.00 to $69.00 in a research note to investors on Sunday. They now have a “neutral” rating on the stock. Finally, analysts at Cowen and Company cut their price target on shares of Diamond Offshore Drilling (NYSE:DO) from $69.00 to $66.00 in a research note to investors on Sunday. They now have a “market perform” rating on the stock.
Two investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $74.00.
Diamond Offshore Drilling (NYSE:DO) opened at 62.13 on Wednesday. Diamond Offshore Drilling has a one year low of $61.82 and a one year high of $76.85. The stock has a 50-day moving average of $65.36 and a 200-day moving average of $68.11. The company has a market cap of $8.638 billion and a P/E ratio of 12.43.
Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.24 by $0.09. The company had revenue of $758.00 billion for the quarter, compared to the consensus estimate of $767.42 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that Diamond Offshore Drilling will post $4.84 EPS 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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