Zacks: Analysts Anticipate Diamond Offshore Drilling Inc (DO) Will Announce Earnings of $0.02 Per Share
Brokerages expect that Diamond Offshore Drilling Inc (NYSE:DO) will announce earnings of $0.02 per share for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Diamond Offshore Drilling’s earnings. The highest EPS estimate is $0.17 and the lowest is ($0.14). Diamond Offshore Drilling posted earnings of $0.85 per share during the same quarter last year, which would indicate a negative year over year growth rate of 97.6%. The company is scheduled to issue its next quarterly earnings report on Monday, February 12th.
On average, analysts expect that Diamond Offshore Drilling will report full year earnings of $0.87 per share for the current year, with EPS estimates ranging from $0.71 to $1.04. For the next year, analysts expect that the business will post earnings of ($0.01) per share, with EPS estimates ranging from ($0.31) to $0.50. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Diamond Offshore Drilling.
Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $366.02 million for the quarter, compared to analysts’ expectations of $365.38 million. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS.
Diamond Offshore Drilling (DO) traded up $0.36 on Thursday, hitting $19.63. The company had a trading volume of 1,381,883 shares, compared to its average volume of 1,125,319. The firm has a market cap of $2,693.79, a PE ratio of 16.09 and a beta of 1.29. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a 1-year low of $10.06 and a 1-year high of $20.41.
In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $18.55, for a total transaction of $27,825.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.03% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Contrarius Investment Management Ltd raised its position in shares of Diamond Offshore Drilling by 13.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock worth $108,925,000 after buying an additional 905,595 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Diamond Offshore Drilling in the 3rd quarter worth $2,745,000. Commonwealth Bank of Australia raised its position in shares of Diamond Offshore Drilling by 6.0% in the 3rd quarter. Commonwealth Bank of Australia now owns 185,541 shares of the offshore drilling services provider’s stock worth $2,687,000 after buying an additional 10,500 shares during the period. Point72 Asset Management L.P. raised its position in shares of Diamond Offshore Drilling by 959.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 625,300 shares of the offshore drilling services provider’s stock worth $9,067,000 after buying an additional 566,300 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Diamond Offshore Drilling by 4.6% in the 2nd quarter. Principal Financial Group Inc. now owns 276,415 shares of the offshore drilling services provider’s stock worth $2,993,000 after buying an additional 12,282 shares during the period.
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.
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