Analysts Anticipate Diamond Offshore Drilling, Inc. (DO) to Announce $0.04 Earnings Per Share

Wall Street brokerages expect Diamond Offshore Drilling, Inc. (NYSE:DO) to post earnings of $0.04 per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Diamond Offshore Drilling’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at $0.22. Diamond Offshore Drilling reported earnings of $0.85 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 95.3%. The firm is scheduled to report its next earnings results on Monday, February 12th.

According to Zacks, analysts expect that Diamond Offshore Drilling will report full year earnings of $0.90 per share for the current year, with EPS estimates ranging from $0.71 to $1.17. For the next financial year, analysts anticipate that the business will report earnings of $0.08 per share, with EPS estimates ranging from ($0.31) to $0.50. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Diamond Offshore Drilling.

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

Several equities research analysts have recently weighed in on the stock. B. Riley reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. Barclays PLC reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Sunday, November 5th. UBS AG upped their price target on shares of Diamond Offshore Drilling from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Tuesday, October 31st. Finally, FBR & Co set a $13.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, October 30th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Diamond Offshore Drilling presently has a consensus rating of “Hold” and an average target price of $14.71.

Shares of Diamond Offshore Drilling (DO) traded down $0.25 on Monday, hitting $15.71. 1,743,377 shares of the stock traded hands, compared to its average volume of 2,960,878. Diamond Offshore Drilling has a 52-week low of $10.06 and a 52-week high of $22.65. The stock has a market cap of $2,190.16, a PE ratio of 9.28 and a beta of 1.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.58 and a quick ratio of 3.58.

A number of institutional investors have recently modified their holdings of DO. Teachers Advisors LLC increased its stake in Diamond Offshore Drilling by 4.9% during the 1st quarter. Teachers Advisors LLC now owns 123,726 shares of the offshore drilling services provider’s stock valued at $2,067,000 after purchasing an additional 5,781 shares in the last quarter. Geode Capital Management LLC increased its stake in Diamond Offshore Drilling by 4.8% during the 1st quarter. Geode Capital Management LLC now owns 475,783 shares of the offshore drilling services provider’s stock valued at $7,950,000 after purchasing an additional 21,836 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Diamond Offshore Drilling by 1.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 350,175 shares of the offshore drilling services provider’s stock worth $5,852,000 after acquiring an additional 6,313 shares during the period. State Street Corp increased its stake in shares of Diamond Offshore Drilling by 5.7% in the first quarter. State Street Corp now owns 2,373,391 shares of the offshore drilling services provider’s stock worth $39,657,000 after acquiring an additional 128,770 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Diamond Offshore Drilling by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 23,587 shares of the offshore drilling services provider’s stock worth $255,000 after acquiring an additional 1,014 shares during the period.

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

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