Diamond Offshore Drilling, Inc. (NYSE:DO) – Stock analysts at Jefferies Group lowered their FY2017 earnings per share (EPS) estimates for shares of Diamond Offshore Drilling in a research note issued to investors on Monday. Jefferies Group analyst E. Royes now anticipates that the offshore drilling services provider will earn $0.85 per share for the year, down from their prior estimate of $1.00. Jefferies Group currently has a “Hold” rating and a $12.00 target price on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s FY2018 earnings at $0.00 EPS.

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 (EPS) for the quarter, topping 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 business had revenue of $399.30 million during the quarter, compared to analyst estimates of $381.50 million. During the same period in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year.

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A number of other analysts have also weighed in on DO. BMO Capital Markets reissued a “sell” rating and issued a $14.50 price target on shares of Diamond Offshore Drilling in a report on Tuesday, April 18th. Credit Suisse Group set a $18.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a report on Thursday, April 20th. 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 report on Monday, May 1st. BidaskClub raised shares of Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Seaport Global Securities lowered shares of Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and lowered their price target for the company from $12.00 to $9.00 in a report on Wednesday, June 21st. Ten investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $15.91.

Diamond Offshore Drilling (DO) opened at 10.89 on Wednesday. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $22.65. The company has a 50-day moving average price of $11.46 and a 200-day moving average price of $13.89. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 8.85 and a beta of 1.12.

Large investors have recently bought and sold shares of the stock. State Treasurer State of Michigan boosted its stake in Diamond Offshore Drilling by 0.8% in the first quarter. State Treasurer State of Michigan now owns 26,200 shares of the offshore drilling services provider’s stock valued at $438,000 after buying an additional 200 shares in the last quarter. Advantus Capital Management Inc boosted its stake 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 valued at $138,000 after buying an additional 242 shares in the last quarter. Stephens Inc. AR boosted its stake in Diamond Offshore Drilling by 0.5% in the first quarter. Stephens Inc. AR now owns 55,534 shares of the offshore drilling services provider’s stock valued at $928,000 after buying an additional 264 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Diamond Offshore Drilling by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 22,573 shares of the offshore drilling services provider’s stock valued at $377,000 after buying an additional 300 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Diamond Offshore Drilling by 1.2% in the first quarter. Mason Street Advisors LLC now owns 30,457 shares of the offshore drilling services provider’s stock valued at $509,000 after buying an additional 368 shares in the last quarter.

In other news, Director Paul G. Gaffney purchased 4,000 shares of Diamond Offshore Drilling stock in a transaction dated Monday, May 22nd. The shares were bought at an average cost of $13.67 per share, with a total value of $54,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.03% of the company’s stock.

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.

Earnings History and Estimates for Diamond Offshore Drilling (NYSE:DO)

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