Diamond Offshore Drilling Inc (NYSE:DO) – Equities research analysts at Capital One Financial issued their Q1 2019 earnings per share estimates for Diamond Offshore Drilling in a report released on Monday, November 5th. Capital One Financial analyst L. Lemoine anticipates that the offshore drilling services provider will post earnings per share of ($0.22) for the quarter. Capital One Financial also issued estimates for Diamond Offshore Drilling’s Q2 2019 earnings at ($0.35) EPS.
Diamond Offshore Drilling (NYSE:DO) last posted its earnings results on Monday, November 5th. The offshore drilling services provider reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. The company had revenue of $286.30 million for the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 21.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share.
A number of other research firms also recently commented on DO. Zacks Investment Research upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, October 9th. UBS Group set a $26.00 target price on Diamond Offshore Drilling and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Jefferies Financial Group reiterated a “sell” rating and issued a $16.00 target price on shares of Diamond Offshore Drilling in a research report on Monday, July 30th. Credit Suisse Group boosted their target price on Diamond Offshore Drilling from $14.00 to $15.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 31st. Finally, B. Riley set a $17.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Eleven research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.69.
NYSE:DO opened at $13.79 on Tuesday. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.95 billion, a P/E ratio of 16.82 and a beta of 1.44. Diamond Offshore Drilling has a 12 month low of $13.56 and a 12 month high of $21.92.
Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in Diamond Offshore Drilling during the second quarter worth approximately $108,000. Contravisory Investment Management Inc. bought a new stake in Diamond Offshore Drilling during the third quarter worth approximately $144,000. ING Groep NV bought a new position in shares of Diamond Offshore Drilling during the second quarter valued at approximately $206,000. V Wealth Management LLC bought a new position in shares of Diamond Offshore Drilling during the second quarter valued at approximately $238,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Diamond Offshore Drilling during the second quarter valued at approximately $275,000.
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.
Featured Article: What are the most popular ETFs
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.