Stock analysts at HSBC Holdings plc started coverage on shares of Diamond Offshore Drilling, Inc. (NYSE:DO) in a research report issued to clients and investors on Thursday, October 19th, MarketBeat.com reports. The brokerage set a “hold” rating and a $15.80 price target on the offshore drilling services provider’s stock. HSBC Holdings plc’s target price suggests a potential downside of 0.06% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. Seaport Global Securities cut Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $12.00 to $9.00 in a report on Wednesday, June 21st. BidaskClub downgraded shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Bank of America Corporation downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $12.00 in a research report on Friday, June 30th. Jefferies Group LLC set a $14.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Zephirin Group reiterated a “sell” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, August 2nd. Nine investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.60.
Diamond Offshore Drilling (NYSE:DO) opened at 15.81 on Thursday. The stock has a 50 day moving average price of $14.29 and a 200-day moving average price of $12.84. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $22.65. The stock has a market capitalization of $2.17 billion, a P/E ratio of 12.85 and a beta of 1.19.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.21. The company had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $381.50 million. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. Diamond Offshore Drilling’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. Equities research analysts expect that Diamond Offshore Drilling will post $0.90 EPS for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of DO. Victory Capital Management Inc. bought a new stake in Diamond Offshore Drilling in the 3rd quarter worth about $126,000. Aperio Group LLC grew its position in Diamond Offshore Drilling by 204.5% in the 3rd quarter. Aperio Group LLC now owns 244,721 shares of the offshore drilling services provider’s stock worth $3,548,000 after purchasing an additional 164,358 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Diamond Offshore Drilling in the 3rd quarter worth about $421,000. Mutual of America Capital Management LLC grew its position in Diamond Offshore Drilling by 7.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 50,486 shares of the offshore drilling services provider’s stock worth $732,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Shell Asset Management Co. bought a new stake in Diamond Offshore Drilling in the 3rd quarter worth about $415,000.
About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.
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