Diamond Offshore Drilling Inc (DO) Expected to Post Q1 2018 Earnings of ($0.29) Per Share

Diamond Offshore Drilling Inc (NYSE:DO) – Analysts at Jefferies Group issued their Q1 2018 earnings estimates for shares of Diamond Offshore Drilling in a note issued to investors on Thursday. Jefferies Group analyst E. Royes expects that the offshore drilling services provider will earn ($0.29) per share for the quarter. Jefferies Group has a “Sell” rating and a $12.00 price objective on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s Q2 2018 earnings at ($0.18) EPS, Q3 2018 earnings at ($0.04) EPS, Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.55) EPS, FY2019 earnings at ($0.60) EPS and FY2020 earnings at ($0.90) EPS.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The business had revenue of $346.20 million during the quarter, compared to analysts’ expectations of $331.98 million. During the same period last year, the company posted $0.27 EPS. The company’s revenue was down 11.7% on a year-over-year basis.

Other research analysts have also recently issued reports about the stock. B. Riley reissued a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. TheStreet raised shares of Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, SEB Equity Research cut shares of Diamond Offshore Drilling from a “market perform” rating to an “underperform” rating in a research note on Friday, February 9th. Twelve analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.49.

Diamond Offshore Drilling (DO) opened at $13.91 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.97 and a current ratio of 3.97. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $20.41. The firm has a market cap of $1,885.51, a P/E ratio of 16.76 and a beta of 1.13.

Several hedge funds and other institutional investors have recently made changes to their positions in DO. Horseman Capital Management Ltd purchased a new stake in shares of Diamond Offshore Drilling during the 3rd quarter valued at $30,944,000. Majedie Asset Management Ltd grew its stake in shares of Diamond Offshore Drilling by 121.9% during the 3rd quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock valued at $37,273,000 after buying an additional 1,412,327 shares during the period. Schroder Investment Management Group grew its stake in shares of Diamond Offshore Drilling by 127.6% during the 4th quarter. Schroder Investment Management Group now owns 1,691,100 shares of the offshore drilling services provider’s stock valued at $31,437,000 after buying an additional 948,200 shares during the period. Contrarius Investment Management Ltd grew its stake in shares of Diamond Offshore Drilling by 13.7% during the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock valued at $108,925,000 after buying an additional 905,595 shares during the period. Finally, State Street Corp grew its stake in shares of Diamond Offshore Drilling by 27.3% during the 2nd quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock valued at $32,721,000 after buying an additional 648,077 shares during the period. 90.58% of the stock is owned by institutional investors.

In other news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total transaction of $27,825.00. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $18,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is owned by insiders.

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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.

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

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