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.

A number of equities research analysts have commented on DO shares. Jefferies Group reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a report on Tuesday, October 31st. Cowen set a $18.00 target price on Diamond Offshore Drilling and gave the company a “hold” rating in a report on Thursday, January 11th. Deutsche Bank started coverage on Diamond Offshore Drilling in a report on Tuesday, October 10th. They set a “hold” rating and a $15.00 target price on the stock. started coverage on Diamond Offshore Drilling in a report on Thursday, October 19th. They set a “hold” rating and a $15.80 target price on the stock. Finally, Barclays reiterated a “neutral” rating on shares of Diamond Offshore Drilling in a report on Sunday, November 5th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Diamond Offshore Drilling currently has a consensus rating of “Hold” and an average target price of $15.01.

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.

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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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Earnings History and Estimates for Diamond Offshore Drilling (NYSE:DO)

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