Diamond Offshore Drilling (DO) Given a $16.00 Price Target by Susquehanna Bancshares Analysts

Susquehanna Bancshares set a $16.00 price objective on Diamond Offshore Drilling (NYSE:DO) in a report published on Friday morning. The firm currently has a hold rating on the offshore drilling services provider’s stock.

DO has been the topic of several other research reports. ValuEngine upgraded Diamond Offshore Drilling from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. TheStreet upgraded Diamond Offshore Drilling from a d+ rating to a c- rating in a research note on Monday, January 22nd. Piper Jaffray set a $9.00 price objective on Diamond Offshore Drilling and gave the company a sell rating in a research note on Monday, February 12th. Jefferies Group restated a sell rating and set a $14.00 price objective on shares of Diamond Offshore Drilling in a research note on Wednesday, February 7th. Finally, Citigroup set a $12.00 price objective on Diamond Offshore Drilling and gave the company a sell rating in a research note on Tuesday, February 13th. Thirteen analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Diamond Offshore Drilling has an average rating of Hold and an average target price of $14.18.

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NYSE:DO opened at $18.71 on Friday. 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 one year low of $10.06 and a one year high of $20.41. The stock has a market capitalization of $2,541.46, a P/E ratio of 22.82 and a beta of 1.20.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Diamond Offshore Drilling had a return on equity of 2.96% and a net margin of 1.23%. The business had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $331.98 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was down 11.7% compared to the same quarter last year. equities research analysts predict that Diamond Offshore Drilling will post -0.28 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in Diamond Offshore Drilling by 12.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 46,126 shares of the offshore drilling services provider’s stock worth $857,000 after buying an additional 5,270 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in Diamond Offshore Drilling in the 4th quarter worth approximately $1,368,000. Gotham Asset Management LLC grew its holdings in Diamond Offshore Drilling by 1,401.7% in the 4th quarter. Gotham Asset Management LLC now owns 540,731 shares of the offshore drilling services provider’s stock worth $10,052,000 after buying an additional 504,723 shares in the last quarter. LPL Financial LLC bought a new position in Diamond Offshore Drilling in the 4th quarter worth approximately $752,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Diamond Offshore Drilling by 331.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock worth $142,000 after buying an additional 5,872 shares in the last quarter.

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Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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