Susquehanna Bancshares set a $16.00 price objective on Diamond Offshore Drilling (NYSE:DO) in a report released on Tuesday. The firm currently has a hold rating on the offshore drilling services provider’s stock.
Other research analysts have also recently issued research reports about the company. Barclays boosted their price target on Diamond Offshore Drilling from $13.00 to $14.00 and gave the stock an underweight rating in a research note on Thursday, August 9th. B. Riley set a $17.00 price target on Diamond Offshore Drilling and gave the stock a hold rating in a research note on Tuesday, July 31st. Zacks Investment Research upgraded Diamond Offshore Drilling from a hold rating to a buy rating and set a $23.00 price target for the company in a research note on Tuesday, October 9th. TheStreet cut Diamond Offshore Drilling from a c- rating to a d+ rating in a research note on Monday, July 30th. Finally, Jefferies Financial Group restated a sell rating and issued a $16.00 price target on shares of Diamond Offshore Drilling in a research note on Monday, July 30th. Eleven analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $16.66.
NYSE:DO traded up $0.37 during trading hours on Tuesday, reaching $14.68. 3,027,873 shares of the company traded hands, compared to its average volume of 2,087,675. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 17.90 and a beta of 1.44. Diamond Offshore Drilling has a 1 year low of $13.56 and a 1 year high of $21.92. The company has a current ratio of 3.91, a quick ratio of 4.23 and a debt-to-equity ratio of 0.54.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, November 5th. The offshore drilling services provider reported ($0.26) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.10. Diamond Offshore Drilling had a negative return on equity of 2.92% and a negative net margin of 11.11%. The business had revenue of $286.30 million during the quarter, compared to analysts’ expectations of $281.74 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was down 21.8% compared to the same quarter last year. As a group, equities research analysts predict that Diamond Offshore Drilling will post -1.14 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. ING Groep NV bought a new stake in Diamond Offshore Drilling during the second quarter valued at about $206,000. Public Employees Retirement System of Ohio bought a new stake in Diamond Offshore Drilling during the second quarter valued at about $392,000. Quantitative Systematic Strategies LLC bought a new stake in Diamond Offshore Drilling during the second quarter valued at about $275,000. Renaissance Technologies LLC bought a new stake in Diamond Offshore Drilling during the second quarter valued at about $1,879,000. Finally, We Are One Seven LLC bought a new stake in Diamond Offshore Drilling during the third quarter valued at about $267,000.
Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.
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