Diamond Offshore Drilling, Inc. (NYSE:DO) – Stock analysts at Jefferies Group decreased their Q4 2017 earnings per share (EPS) estimates for shares of Diamond Offshore Drilling in a research note issued on Monday. Jefferies Group analyst E. Royes now anticipates that the offshore drilling services provider will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.11. Jefferies Group currently has a “Neutral” rating on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s FY2018 earnings at $0.15 EPS, FY2019 earnings at ($0.45) EPS and FY2020 earnings at ($1.05) EPS.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, October 30th. The offshore drilling services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. Diamond Offshore Drilling had a return on equity of 6.23% and a net margin of 10.86%. The firm had revenue of $366.02 million during the quarter, compared to analyst estimates of $365.38 million. During the same period last year, the firm posted $0.10 EPS. The business’s revenue was up 4.8% compared to the same quarter last year.

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Several other brokerages have also issued reports on DO. FBR & Co set a $13.00 target price on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, October 30th. UBS Group AG (USA) lifted their price objective on Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Citigroup Inc lowered Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and set a $12.00 price objective for the company. in a report on Thursday, October 12th. Finally, Cowen and Company set a $11.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Wednesday, October 18th. Nine equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Diamond Offshore Drilling currently has an average rating of “Hold” and a consensus price target of $14.67.

Shares of Diamond Offshore Drilling (NYSE DO) opened at $16.43 on Thursday. The stock has a market cap of $2.25 billion, a PE ratio of 9.53 and a beta of 1.31. The company has a quick ratio of 3.69, a current ratio of 3.58 and a debt-to-equity ratio of 0.52.

Several institutional investors and hedge funds have recently modified their holdings of DO. Raymond James Trust N.A. bought a new stake in shares of Diamond Offshore Drilling during the 2nd quarter valued at about $118,000. BlueMountain Capital Management LLC bought a new stake in shares of Diamond Offshore Drilling during the 2nd quarter valued at about $119,000. Zacks Investment Management bought a new stake in shares of Diamond Offshore Drilling during the 2nd quarter valued at about $124,000. Victory Capital Management Inc. bought a new stake in shares of Diamond Offshore Drilling during the 3rd quarter valued at about $126,000. Finally, M&T Bank Corp bought a new stake in shares of Diamond Offshore Drilling during the 2nd quarter valued at about $139,000.

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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