Diamond Offshore Drilling Inc (DO) Receives Consensus Rating of “Hold” from Analysts
Diamond Offshore Drilling Inc (NYSE:DO) has been assigned a consensus rating of “Hold” from the twenty-seven research firms that are covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $14.39.
Several research firms have weighed in on DO. Cowen set a $18.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $17.00 target price on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Friday, January 12th. Barclays cut shares of Diamond Offshore Drilling from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $19.92 to $13.00 in a report on Tuesday, January 23rd. Jefferies Group cut shares of Diamond Offshore Drilling from a “hold” rating to an “underperform” rating and set a $15.00 target price on the stock. in a report on Thursday, January 4th. Finally, TheStreet raised shares of Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a report on Monday, January 22nd.
In related news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total value of $27,825.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $18,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.03% of the company’s stock.
Diamond Offshore Drilling (NYSE:DO) opened at $14.98 on Wednesday. The firm has a market cap of $2,089.98, a PE ratio of 107.01 and a beta of 1.25. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a fifty-two week low of $10.06 and a fifty-two week high of $20.41.
Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $331.98 million. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The business’s revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. equities research analysts anticipate that Diamond Offshore Drilling will post -0.3 earnings per share for the current year.
About Diamond Offshore Drilling
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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