BidaskClub upgraded shares of Diamond Offshore Drilling, Inc. (NYSE:DO) from a strong sell rating to a sell rating in a research report report published on Friday morning.

Several other brokerages have also recently commented on DO. Barclays PLC reissued an equal weight rating and issued a $15.00 price target (down previously from $19.00) on shares of Diamond Offshore Drilling in a research report on Monday, May 1st. Jefferies Group LLC decreased their price target on shares of Diamond Offshore Drilling from $17.00 to $15.00 and set a hold rating for the company in a research report on Tuesday, May 2nd. Seaport Global Securities reissued a sell rating on shares of Diamond Offshore Drilling in a research report on Monday, July 31st. Piper Jaffray Companies reissued a hold rating and issued a $12.50 price target on shares of Diamond Offshore Drilling in a research report on Thursday, August 3rd. Finally, Zephirin Group reissued a sell rating on shares of Diamond Offshore Drilling in a research report on Wednesday, August 2nd. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four 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 a consensus price target of $15.58.

Diamond Offshore Drilling (NYSE:DO) opened at 11.41 on Friday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 9.28 and a beta of 1.12. The stock has a 50 day moving average price of $11.41 and a 200 day moving average price of $13.60. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The company had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $381.50 million. During the same quarter last year, the company posted $0.16 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that Diamond Offshore Drilling will post $0.93 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in Diamond Offshore Drilling by 10.2% in the first quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock worth $111,000 after buying an additional 620 shares in the last quarter. Raymond James Trust N.A. acquired a new position in Diamond Offshore Drilling during the second quarter worth approximately $118,000. BlueMountain Capital Management LLC acquired a new position in Diamond Offshore Drilling during the second quarter worth approximately $119,000. Zacks Investment Management acquired a new position in Diamond Offshore Drilling during the second quarter worth approximately $124,000. Finally, Advantus Capital Management Inc raised its position in Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock worth $138,000 after buying an additional 242 shares in the last quarter.

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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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