Diamond Offshore Drilling Inc (NYSE:DO) – Jefferies Financial Group lifted their Q3 2018 earnings estimates for Diamond Offshore Drilling in a research note issued on Tuesday, October 16th. Jefferies Financial Group analyst E. Royes now expects that the offshore drilling services provider will earn ($0.35) per share for the quarter, up from their previous forecast of ($0.37). Jefferies Financial Group has a “Sell” rating and a $16.00 price target on the stock. Jefferies Financial Group also issued estimates for Diamond Offshore Drilling’s Q4 2018 earnings at ($0.36) EPS, FY2019 earnings at ($1.50) EPS and FY2020 earnings at ($0.85) EPS.
Several other analysts also recently commented on the stock. Morgan Stanley initiated coverage on shares of Diamond Offshore Drilling in a research report on Tuesday, September 18th. They set an “underweight” rating and a $15.00 price objective for the company. Royal Bank of Canada raised shares of Diamond Offshore Drilling from a “sector perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Thursday, September 20th. Barclays raised their price objective on shares of Diamond Offshore Drilling from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Thursday, August 9th. HSBC raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and raised their price objective for the stock from $18.80 to $20.80 in a research report on Friday, September 21st. Finally, TheStreet downgraded shares of Diamond Offshore Drilling from a “c-” rating to a “d+” rating in a research report on Monday, July 30th. Eleven analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.40.
Shares of DO stock opened at $17.71 on Thursday. The company has a market cap of $2.53 billion, a PE ratio of 21.60 and a beta of 1.11. Diamond Offshore Drilling has a 52 week low of $13.64 and a 52 week high of $21.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.23 and a quick ratio of 4.23.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, July 30th. The offshore drilling services provider reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.06. The company had revenue of $268.90 million during the quarter, compared to the consensus estimate of $279.83 million. Diamond Offshore Drilling had a negative net margin of 5.57% and a negative return on equity of 1.06%. The company’s quarterly revenue was down 32.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS.
Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new position in Diamond Offshore Drilling during the 2nd quarter valued at $108,000. Contravisory Investment Management Inc. bought a new position in Diamond Offshore Drilling during the 3rd quarter valued at $144,000. ING Groep NV bought a new position in Diamond Offshore Drilling during the 2nd quarter valued at $206,000. V Wealth Management LLC bought a new position in Diamond Offshore Drilling during the 2nd quarter valued at $238,000. Finally, Northwestern Mutual Investment Management Company LLC lifted its stake in Diamond Offshore Drilling by 56.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 13,197 shares of the offshore drilling services provider’s stock valued at $193,000 after acquiring an additional 4,750 shares in the last quarter.
In related news, SVP David L. Roland sold 1,744 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $19.73, for a total value of $34,409.12. Following the transaction, the senior vice president now directly owns 9,194 shares in the company, valued at approximately $181,397.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.03% of the stock is owned by company insiders.
About Diamond Offshore Drilling
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.
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