Diamond Offshore Drilling Inc (DO) Expected to Earn Q1 2018 Earnings of ($0.04) Per Share

Diamond Offshore Drilling Inc (NYSE:DO) – B. Riley reduced their Q1 2018 earnings estimates for shares of Diamond Offshore Drilling in a note issued to investors on Tuesday. B. Riley analyst T. Curran now forecasts that the offshore drilling services provider will earn ($0.04) per share for the quarter, down from their prior forecast of $0.01. B. Riley currently has a “Hold” rating and a $13.00 target price on the stock. B. Riley also issued estimates for Diamond Offshore Drilling’s Q2 2018 earnings at ($0.04) EPS, Q4 2018 earnings at $0.01 EPS, FY2018 earnings at ($0.03) EPS, Q3 2019 earnings at $0.01 EPS and Q4 2019 earnings at $0.01 EPS.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $346.20 million for the quarter, compared to analyst estimates of $331.98 million. Diamond Offshore Drilling had a return on equity of 2.96% and a net margin of 1.23%. Diamond Offshore Drilling’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share.

DO has been the topic of a number of other reports. ValuEngine raised Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Clarkson Capital lowered Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research report on Thursday, January 18th. Zacks Investment Research lowered Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Cowen set a $18.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, Royal Bank of Canada set a $19.00 target price on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Thursday, December 21st. Twelve equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Diamond Offshore Drilling has a consensus rating of “Hold” and a consensus price target of $14.59.

Shares of Diamond Offshore Drilling (DO) opened at $14.21 on Thursday. The stock has a market capitalization of $1,933.54, a price-to-earnings ratio of 101.51 and a beta of 1.13. The company has a current ratio of 3.97, a quick ratio of 3.58 and a debt-to-equity ratio of 0.52. Diamond Offshore Drilling has a 52-week low of $10.06 and a 52-week high of $20.41.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. grew its stake in Diamond Offshore Drilling by 331.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock valued at $142,000 after purchasing an additional 5,872 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Diamond Offshore Drilling in the third quarter valued at about $126,000. Itau Unibanco Holding S.A. purchased a new position in Diamond Offshore Drilling in the fourth quarter valued at about $171,000. Wright Investors Service Inc. purchased a new position in Diamond Offshore Drilling in the fourth quarter valued at about $204,000. Finally, Investors Research Corp purchased a new position in Diamond Offshore Drilling in the fourth quarter valued at about $209,000.

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $18,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

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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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