Diamond Offshore Drilling (NYSE:DO) has been given a $17.00 price target by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday. The firm currently has a “hold” rating on the offshore drilling services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 20.65% from the company’s current price.
A number of other research analysts also recently weighed in on DO. B. Riley restated a “neutral” rating on shares of Diamond Offshore Drilling in a report on Wednesday, November 1st. Citigroup set a $12.00 price target on shares of Diamond Offshore Drilling and gave the company a “sell” rating in a report on Tuesday. Raymond James Financial restated an “underperform” rating on shares of Diamond Offshore Drilling in a report on Friday, February 9th. Jefferies Group restated a “sell” rating and set a $14.00 price target on shares of Diamond Offshore Drilling in a report on Wednesday, February 7th. Finally, ValuEngine upgraded shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Twelve research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Diamond Offshore Drilling currently has a consensus rating of “Hold” and a consensus target price of $14.70.
Shares of Diamond Offshore Drilling (DO) opened at $14.09 on Monday. The stock has a market cap of $1,930.00, a price-to-earnings ratio of 108.38 and a beta of 1.13. Diamond Offshore Drilling has a 52 week low of $10.06 and a 52 week high of $20.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58.
Diamond Offshore Drilling (NYSE:DO) last issued its earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $346.20 million during the quarter, compared to analyst estimates of $331.98 million. Diamond Offshore Drilling had a net margin of 10.86% and a return on equity of 6.23%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. equities research analysts expect that Diamond Offshore Drilling will post 0.86 earnings per share for the current fiscal year.
In related news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total value of $27,825.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $18,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.03% of the company’s stock.
Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of Diamond Offshore Drilling during the 3rd quarter worth about $126,000. Itau Unibanco Holding S.A. bought a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $171,000. Wright Investors Service Inc. bought a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $204,000. Investors Research Corp bought a new position in shares of Diamond Offshore Drilling during the 4th quarter worth about $209,000. Finally, US Bancorp DE increased its holdings in shares of Diamond Offshore Drilling by 77.5% during the 4th quarter. US Bancorp DE now owns 11,957 shares of the offshore drilling services provider’s stock worth $222,000 after purchasing an additional 5,219 shares during the period.
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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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