Jefferies Group Analysts Increase Earnings Estimates for Diamond Offshore Drilling, Inc. (NYSE:DO)

Diamond Offshore Drilling, Inc. (NYSE:DO) – Equities research analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for Diamond Offshore Drilling in a report issued on Monday, Zacks Investment Research reports. Jefferies Group analyst E. Royes now forecasts that the offshore drilling services provider will post earnings of $0.87 per share for the year, up from their prior forecast of $0.85. Jefferies Group currently has a “Neutral” rating on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s Q1 2018 earnings at ($0.01) EPS, Q2 2018 earnings at $0.07 EPS, Q3 2018 earnings at $0.12 EPS and Q4 2018 earnings at ($0.02) EPS.

A number of other analysts also recently issued reports on DO. B. Riley restated a “neutral” rating on shares of Diamond Offshore Drilling in a report on Wednesday, November 1st. BidaskClub cut shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Zephirin Group reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, August 2nd. Seaport Global Securities reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Finally, Barclays PLC reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Sunday, November 5th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.71.

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Diamond Offshore Drilling (NYSE DO) opened at $17.38 on Wednesday. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65. The firm has a market cap of $2,385.02, a price-to-earnings ratio of 10.10 and a beta of 1.31.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The firm had revenue of $366.02 million during the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS.

A number of institutional investors have recently modified their holdings of DO. Raymond James Trust N.A. purchased a new position in Diamond Offshore Drilling during the 2nd quarter valued at $118,000. BlueMountain Capital Management LLC bought a new position in Diamond Offshore Drilling in the 2nd quarter worth about $119,000. Zacks Investment Management bought a new position in Diamond Offshore Drilling in the 2nd quarter worth about $124,000. Victory Capital Management Inc. bought a new position in Diamond Offshore Drilling during the 3rd quarter valued at about $126,000. Finally, M&T Bank Corp bought a new position in Diamond Offshore Drilling during the 2nd quarter valued at about $139,000.

Diamond Offshore Drilling Company Profile

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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Earnings History and Estimates for Diamond Offshore Drilling (NYSE:DO)

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