Diamond Offshore Drilling, Inc. (NYSE:DO) – Investment analysts at Jefferies Group raised their Q2 2017 earnings per share estimates for shares of Diamond Offshore Drilling in a research report issued to clients and investors on Tuesday. Jefferies Group analyst E. Royes now forecasts that the offshore drilling services provider will post earnings per share of $0.33 for the quarter, up from their prior forecast of $0.26. Jefferies Group has a “Hold” rating and a $12.00 price target on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s FY2017 earnings at $1.00 EPS, FY2018 earnings at $0.15 EPS and FY2019 earnings at ($0.20) EPS.

Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, May 1st. The offshore drilling services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Diamond Offshore Drilling had a negative net margin of 29.01% and a positive return on equity of 4.76%. The business had revenue of $374.22 million during the quarter, compared to analyst estimates of $366.03 million. During the same period last year, the firm posted $0.64 EPS. The company’s revenue was down 20.5% on a year-over-year basis.

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Several other research analysts also recently weighed in on the company. Zacks Investment Research raised Diamond Offshore Drilling from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research note on Tuesday, April 11th. Barclays PLC reaffirmed an “equal weight” rating and set a $15.00 target price (down from $19.00) on shares of Diamond Offshore Drilling in a research note on Monday, May 1st. Credit Suisse Group set a $18.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research note on Thursday, April 20th. Tudor Pickering started coverage on Diamond Offshore Drilling in a research note on Thursday, March 23rd. They set a “hold” rating for the company. Finally, BidaskClub raised Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $16.49.

Shares of Diamond Offshore Drilling (NYSE:DO) opened at 11.84 on Thursday. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $24.02. The firm’s 50-day moving average is $11.17 and its 200-day moving average is $14.75. The stock’s market capitalization is $1.62 billion.

Institutional investors have recently bought and sold shares of the company. State Treasurer State of Michigan raised its position in Diamond Offshore Drilling by 0.8% in the first quarter. State Treasurer State of Michigan now owns 26,200 shares of the offshore drilling services provider’s stock valued at $438,000 after buying an additional 200 shares during the last quarter. Advantus Capital Management Inc raised its position in Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock valued at $138,000 after buying an additional 242 shares during the last quarter. Stephens Inc. AR raised its position in Diamond Offshore Drilling by 0.5% in the first quarter. Stephens Inc. AR now owns 55,534 shares of the offshore drilling services provider’s stock valued at $928,000 after buying an additional 264 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Diamond Offshore Drilling by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 22,573 shares of the offshore drilling services provider’s stock valued at $377,000 after buying an additional 300 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in Diamond Offshore Drilling by 1.2% in the first quarter. Mason Street Advisors LLC now owns 30,457 shares of the offshore drilling services provider’s stock valued at $509,000 after buying an additional 368 shares during the last quarter.

In other Diamond Offshore Drilling news, Director Paul G. Gaffney purchased 4,000 shares of the stock in a transaction dated Monday, May 22nd. The stock was acquired at an average cost of $13.67 per share, for a total transaction of $54,680.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.03% of the company’s stock.

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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