Diamond Offshore Drilling, Inc. (NYSE:DO)‘s stock had its “hold” rating restated by Piper Jaffray Companies in a report issued on Tuesday. They currently have a $9.33 target price on the offshore drilling services provider’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 32.49% from the company’s current price.

DO has been the subject of a number of other reports. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Clarkson Capital raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and set a $12.00 target price (down from $14.00) on shares of Diamond Offshore Drilling in a research note on Tuesday, July 18th. BidaskClub raised shares of Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Finally, Bank of America Corporation lowered shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $12.00 in a research note on Friday, June 30th. Nine equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.79.

Diamond Offshore Drilling (NYSE DO) opened at 13.82 on Tuesday. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 11.24 and a beta of 1.13. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $22.65. The firm has a 50-day moving average of $11.91 and a 200 day moving average of $13.02.

Diamond Offshore Drilling (NYSE:DO) last issued its earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.21. The firm had revenue of $399.30 million during the quarter, compared to analyst estimates of $381.50 million. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 earnings per share. Equities research analysts predict that Diamond Offshore Drilling will post $0.93 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC increased its holdings in shares of Diamond Offshore Drilling by 10.2% during the first quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock valued at $111,000 after acquiring an additional 620 shares in the last quarter. Advantus Capital Management Inc increased its holdings in shares of Diamond Offshore Drilling by 3.0% during 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 acquiring an additional 242 shares in the last quarter. Segantii Capital Management Ltd acquired a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $140,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $169,000. Finally, Amalgamated Bank acquired a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $170,000.

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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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