Brokerages forecast that Diamond Offshore Drilling Inc (NYSE:DO) will post earnings per share (EPS) of ($0.84) for the current fiscal quarter, according to Zacks. 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 ($0.58). Diamond Offshore Drilling posted earnings of ($0.33) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 154.5%. The firm is expected to report its next earnings results on Monday, July 29th.
On average, analysts expect that Diamond Offshore Drilling will report full year earnings of ($2.28) per share for the current fiscal year, with EPS estimates ranging from ($2.66) to ($1.39). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.80) per share, with EPS estimates ranging from ($2.15) to ($1.50). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Diamond Offshore Drilling.
Diamond Offshore Drilling (NYSE:DO) last released its earnings results 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. Diamond Offshore Drilling had a negative return on equity of 5.84% and a negative net margin of 26.72%. The firm had revenue of $223.50 million during the quarter, compared to the consensus estimate of $231.90 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue was down 24.4% compared to the same quarter last year.
A number of research analysts have issued reports on the company. Citigroup set a $8.00 price target on Diamond Offshore Drilling and gave the company a “sell” rating in a report on Friday. Clarkson Capital downgraded Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a report on Friday, April 12th. Goldman Sachs Group assumed coverage on Diamond Offshore Drilling in a report on Sunday, March 10th. They issued a “sell” rating and a $8.00 price target for the company. ValuEngine raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. Finally, Barclays raised Diamond Offshore Drilling from an “underweight” rating to an “overweight” rating and set a $10.29 price target for the company in a report on Wednesday, February 20th. Eight research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.18.
In other Diamond Offshore Drilling news, Director Paul G. Gaffney bought 4,000 shares of Diamond Offshore Drilling stock in a transaction dated Monday, February 25th. The stock was acquired at an average cost of $9.91 per share, with a total value of $39,640.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.
Several hedge funds have recently made changes to their positions in DO. Oregon Public Employees Retirement Fund raised its stake in shares of Diamond Offshore Drilling by 844.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 238,294 shares of the offshore drilling services provider’s stock worth $25,000 after buying an additional 213,051 shares during the period. Advisor Group Inc. raised 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 buying an additional 1,860 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Diamond Offshore Drilling during the 1st quarter worth approximately $36,000. PNC Financial Services Group Inc. raised 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 buying an additional 2,468 shares during the period. Finally, US Bancorp DE increased its position in shares of Diamond Offshore Drilling by 33.6% during the first quarter. US Bancorp DE now owns 5,354 shares of the offshore drilling services provider’s stock worth $56,000 after purchasing an additional 1,346 shares in the last quarter.
NYSE:DO traded down $0.10 during trading hours on Thursday, reaching $9.57. The company had a trading volume of 2,407,364 shares, compared to its average volume of 3,418,725. 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.
Diamond Offshore Drilling Company Profile
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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