Diamond Offshore Drilling, Inc. (NYSE:DO) has earned a consensus recommendation of “Hold” from the twenty-seven brokerages that are covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $14.95.

A number of equities research analysts have weighed in on the company. Piper Jaffray Companies restated a “hold” rating and set a $9.33 price objective on shares of Diamond Offshore Drilling in a research note on Tuesday. Jefferies Group LLC set a $14.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Wednesday, May 24th. ValuEngine raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. BidaskClub raised Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Seaport Global Securities reaffirmed a “sell” rating on shares of Diamond Offshore Drilling in a report on Monday, July 31st.

Diamond Offshore Drilling (DO) traded up 2.71% during midday trading on Wednesday, reaching $13.63. The company had a trading volume of 455,097 shares. The firm’s 50-day moving average price is $11.91 and its 200 day moving average price is $13.02. The firm has a market capitalization of $1.87 billion, a PE ratio of 11.08 and a beta of 1.13. 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 data on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.21. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The firm had revenue of $399.30 million during the quarter, compared to analyst estimates of $381.50 million. During the same quarter last year, the firm earned $0.16 EPS. Diamond Offshore Drilling’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that Diamond Offshore Drilling will post $0.93 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the business. Hikari Power Ltd increased its position in shares of Diamond Offshore Drilling by 416.6% during the 2nd quarter. Hikari Power Ltd now owns 567,700 shares of the offshore drilling services provider’s stock valued at $6,148,000 after purchasing an additional 457,800 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Diamond Offshore Drilling by 522.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 119,776 shares of the offshore drilling services provider’s stock valued at $1,297,000 after purchasing an additional 100,521 shares during the period. Karp Capital Management Corp acquired a new position in shares of Diamond Offshore Drilling during the 1st quarter valued at $680,000. BlackRock Inc. increased its position in shares of Diamond Offshore Drilling by 7,375.1% during the 1st quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock valued at $126,177,000 after purchasing an additional 7,449,872 shares during the period. Finally, Wayne Hummer Investments L.L.C. acquired a new position in shares of Diamond Offshore Drilling during the 2nd quarter valued at $145,000.

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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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