Brokerages expect Diamond Offshore Drilling Inc (NYSE:DO) to post earnings of $0.03 per share for the current quarter, Zacks reports. Eight analysts have provided estimates for Diamond Offshore Drilling’s earnings. The highest EPS estimate is $0.17 and the lowest is ($0.08). Diamond Offshore Drilling reported earnings per share of $0.85 in the same quarter last year, which indicates a negative year over year growth rate of 96.5%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 12th.
On average, analysts expect that Diamond Offshore Drilling will report full year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.71 to $1.04. For the next fiscal year, analysts forecast that the business will post earnings of $0.04 per share, with EPS estimates ranging from ($0.31) to $0.50. Zacks’ 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 issued its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The company had revenue of $366.02 million during the quarter, compared to the consensus estimate of $365.38 million. During the same period in the previous year, the firm posted $0.10 earnings per share. Diamond Offshore Drilling’s quarterly revenue was up 4.8% compared to the same quarter last year.
A number of brokerages have commented on DO. Jefferies Group restated a “neutral” rating on shares of Diamond Offshore Drilling in a research note on Tuesday, October 31st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $9.33 price target on shares of Diamond Offshore Drilling in a report on Tuesday, September 19th. assumed coverage on Diamond Offshore Drilling in a report on Thursday, October 19th. They set a “hold” rating and a $15.80 price target on the stock. Deutsche Bank assumed coverage on Diamond Offshore Drilling in a report on Tuesday, October 10th. They set a “hold” rating and a $15.00 price target on the stock. Finally, Barclays reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a report on Sunday, November 5th. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.53.
In related news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its holdings in Diamond Offshore Drilling by 522.1% during the second quarter. BNP Paribas Arbitrage SA now owns 119,776 shares of the offshore drilling services provider’s stock worth $1,297,000 after purchasing an additional 100,521 shares in the last quarter. First Trust Advisors LP raised its holdings in Diamond Offshore Drilling by 20.7% during the second quarter. First Trust Advisors LP now owns 239,230 shares of the offshore drilling services provider’s stock worth $2,591,000 after purchasing an additional 40,955 shares in the last quarter. Contrarius Investment Management Ltd raised its holdings in Diamond Offshore Drilling by 13.7% during the third quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock worth $108,925,000 after purchasing an additional 905,595 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Diamond Offshore Drilling during the third quarter worth approximately $2,745,000. Finally, Commonwealth Bank of Australia raised its holdings in Diamond Offshore Drilling by 6.0% during the third quarter. Commonwealth Bank of Australia now owns 185,541 shares of the offshore drilling services provider’s stock worth $2,687,000 after purchasing an additional 10,500 shares in the last quarter.
Shares of Diamond Offshore Drilling (NYSE DO) traded down $0.43 during mid-day trading on Monday, reaching $19.05. The company’s stock had a trading volume of 1,290,000 shares, compared to its average volume of 1,580,000. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $20.23. The firm has a market capitalization of $2,610.00, a P/E ratio of 15.74 and a beta of 1.28.
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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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