Shares of Diamond Offshore Drilling Inc (NYSE:DO) have been assigned an average rating of “Hold” from the twenty-five analysts that are presently covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $15.58.

DO has been the subject of several research analyst reports. ValuEngine cut Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group set a $14.00 price objective on Diamond Offshore Drilling and gave the stock a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research cut Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Friday, January 25th. JPMorgan Chase & Co. cut Diamond Offshore Drilling from a “neutral” rating to an “underweight” rating and set a $14.00 price target for the company. in a research report on Friday, October 12th. Finally, Pareto Securities upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research report on Monday, January 28th.

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in Diamond Offshore Drilling in the second quarter valued at approximately $108,000. Kentucky Retirement Systems acquired a new stake in Diamond Offshore Drilling in the third quarter valued at approximately $327,000. Contravisory Investment Management Inc. acquired a new stake in Diamond Offshore Drilling in the third quarter valued at approximately $144,000. We Are One Seven LLC acquired a new stake in Diamond Offshore Drilling in the third quarter valued at approximately $267,000. Finally, Hayden Royal LLC acquired a new stake in Diamond Offshore Drilling in the fourth quarter valued at approximately $129,000.

Shares of NYSE:DO opened at $11.14 on Friday. Diamond Offshore Drilling has a 52-week low of $8.78 and a 52-week high of $21.92. The stock has a market capitalization of $1.50 billion, a PE ratio of 13.59 and a beta of 1.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.91 and a quick ratio of 3.91.

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, topping the 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 firm had revenue of $286.30 million during the quarter, compared to analysts’ expectations of $281.74 million. During the same period last year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down 21.8% compared to the same quarter last year. As a group, equities analysts predict that Diamond Offshore Drilling will post -1.17 earnings per share for the current fiscal year.

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.

See Also: What are convertible shares? 

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with MarketBeat.com's FREE daily email newsletter.