Diamond Offshore Drilling Inc (NYSE:DO) has been given a consensus rating of “Hold” by the twenty brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.79.
A number of equities analysts have recently commented on DO shares. UBS Group set a $11.00 target price on shares of Diamond Offshore Drilling and gave the company a “buy” rating in a report on Friday, August 9th. Bank of America reduced their target price on shares of Diamond Offshore Drilling from $5.00 to $3.50 and set an “underperform” rating for the company in a report on Wednesday, August 28th. Citigroup raised their price target on Diamond Offshore Drilling from $4.00 to $5.00 and gave the stock a “sell” rating in a report on Monday, September 23rd. Morgan Stanley dropped their price target on Diamond Offshore Drilling from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, October 7th. Finally, Pareto Securities downgraded Diamond Offshore Drilling from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.50 to $6.30 in a research note on Monday, September 9th.
In related news, CFO Scott Lee Kornblau sold 5,819 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.69, for a total value of $50,567.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.
Shares of Diamond Offshore Drilling stock traded up $0.34 during trading on Friday, hitting $5.66. 2,556,962 shares of the stock were exchanged, compared to its average volume of 2,178,032. The stock has a market cap of $777.97 million, a price-to-earnings ratio of -4.84 and a beta of 1.77. The firm’s 50-day moving average price is $5.72 and its 200 day moving average price is $7.01. Diamond Offshore Drilling has a 12-month low of $4.77 and a 12-month high of $13.19. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.84 and a quick ratio of 1.84.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings results on Monday, October 28th. The offshore drilling services provider reported ($0.67) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.01. The firm had revenue of $254.00 million during the quarter, compared to the consensus estimate of $244.43 million. Diamond Offshore Drilling had a negative return on equity of 10.44% and a negative net margin of 38.60%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.26) earnings per share. As a group, research analysts forecast that Diamond Offshore Drilling will post -2.84 earnings per share for the current year.
About Diamond Offshore Drilling
Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
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