Somewhat Positive Press Coverage Somewhat Unlikely to Affect Diamond Offshore Drilling (DO) Stock Price
Press coverage about Diamond Offshore Drilling (NYSE:DO) has been trending somewhat positive recently, Accern reports. The research firm identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Diamond Offshore Drilling earned a media sentiment score of 0.25 on Accern’s scale. Accern also gave press coverage about the offshore drilling services provider an impact score of 46.2335113699804 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- See what the IHS Markit Score report has to say about Diamond Offshore Drilling Inc. (finance.yahoo.com)
- Diamond Offshore Drilling, Inc. breached its 50 day moving average in a Bearish Manner : DO-US : August 11, 2017 (finance.yahoo.com)
- Poor Future ahead on Diamond Offshore Drilling, Inc. (DO) – Street Observer (press release) (streetobserver.com)
- Diamond Offshore Drilling, Inc. (DO) Holdings Up in Latest Report from Contrarius Investment Management Ltd – First News 24 (firstnewspaper24.com)
- A Look At Recent Insider Trades For Diamond Offshore Drilling, Inc. (DO) – Economic News (economicsandmoney.com)
DO has been the topic of a number of research analyst reports. Credit Suisse Group set a $18.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Thursday, April 20th. Jefferies Group LLC reissued a “hold” rating and set a $12.00 price objective (down previously from $14.00) on shares of Diamond Offshore Drilling in a report on Tuesday, July 18th. BMO Capital Markets reissued a “sell” rating and set a $14.50 price objective on shares of Diamond Offshore Drilling in a report on Tuesday, April 18th. BidaskClub raised shares of Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Finally, Bank of America Corporation cut shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $12.00 in a report on Friday, June 30th. Eleven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.91.
Diamond Offshore Drilling (DO) traded up 2.06% during trading on Friday, reaching $11.38. 3,068,463 shares of the company were exchanged. The firm’s 50 day moving average is $11.42 and its 200 day moving average is $14.04. The stock has a market capitalization of $1.56 billion, a PE ratio of 9.25 and a beta of 1.12. Diamond Offshore Drilling has a 52-week low of $10.06 and a 52-week high of $22.65.
Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $381.50 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that Diamond Offshore Drilling will post $0.94 EPS for the current year.
In other Diamond Offshore Drilling news, Director Paul G. Gaffney purchased 4,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was bought at an average price of $13.67 per share, with a total value of $54,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.
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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.
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