Diamond Offshore Drilling (NYSE:DO) released its earnings results on Monday. The offshore drilling services provider reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.10, MarketWatch Earnings reports. The company had revenue of $286.30 million during the quarter, compared to analysts’ expectations of $281.74 million. Diamond Offshore Drilling had a negative return on equity of 1.06% and a negative net margin of 5.57%. The business’s revenue for the quarter was down 21.8% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS.
Shares of Diamond Offshore Drilling stock opened at $13.79 on Wednesday. The stock has a market capitalization of $1.95 billion, a PE ratio of 16.82 and a beta of 1.44. Diamond Offshore Drilling has a one year low of $13.56 and a one year high of $21.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 4.23 and a current ratio of 4.23.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, October 9th. UBS Group set a $26.00 target price on Diamond Offshore Drilling and gave the company a “buy” rating in a research note on Tuesday, July 31st. Jefferies Financial Group reissued a “sell” rating and issued a $16.00 target price on shares of Diamond Offshore Drilling in a research note on Monday, July 30th. Credit Suisse Group lifted their target price on Diamond Offshore Drilling from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Tuesday, July 31st. Finally, B. Riley set a $17.00 target price on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Tuesday, July 31st. Eleven analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $16.69.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in shares of Diamond Offshore Drilling in the second quarter valued at approximately $108,000. Contravisory Investment Management Inc. acquired a new position in shares of Diamond Offshore Drilling in the third quarter valued at approximately $144,000. ING Groep NV acquired a new position in shares of Diamond Offshore Drilling in the second quarter valued at approximately $206,000. V Wealth Management LLC acquired a new position in shares of Diamond Offshore Drilling in the second quarter valued at approximately $238,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Diamond Offshore Drilling in the second quarter valued at approximately $275,000.
COPYRIGHT VIOLATION WARNING: “Diamond Offshore Drilling (DO) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another site, it was copied illegally and reposted in violation of U.S. & international copyright laws. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/11/07/diamond-offshore-drilling-do-posts-quarterly-earnings-results-beats-expectations-by-0-10-eps.html.
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.
Featured Article: Yield Curve
Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.