Diamond Offshore Drilling Inc (DO) Given Average Recommendation of “Hold” by Brokerages

Shares of Diamond Offshore Drilling Inc (NYSE:DO) have received an average rating of “Hold” from the twenty-five analysts that are currently covering the stock, Marketbeat reports. Twelve research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $13.75.

A number of equities analysts have commented on the stock. Cowen set a $18.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Thursday, January 11th. Jefferies Group restated a “sell” rating and issued a $12.00 price target on shares of Diamond Offshore Drilling in a research report on Thursday, February 15th. ValuEngine lowered shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. B. Riley set a $13.00 price target on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Tuesday, February 13th. Finally, Clarkson Capital lowered shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research report on Thursday, January 18th.

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NYSE:DO opened at $15.79 on Friday. The stock has a market capitalization of $2,166.83, a price-to-earnings ratio of 19.26 and a beta of 1.20. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $20.41. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.52.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, February 12th. The offshore drilling services provider reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $346.20 million for the quarter, compared to analyst estimates of $331.98 million. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The company’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 business earned $0.27 earnings per share. research analysts predict that Diamond Offshore Drilling will post -0.28 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of DO. Rhumbline Advisers raised its stake in shares of Diamond Offshore Drilling by 2.3% during the third quarter. Rhumbline Advisers now owns 137,428 shares of the offshore drilling services provider’s stock worth $1,993,000 after buying an additional 3,069 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Diamond Offshore Drilling by 525.4% during the third quarter. Russell Investments Group Ltd. now owns 50,884 shares of the offshore drilling services provider’s stock worth $737,000 after buying an additional 42,748 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Diamond Offshore Drilling by 23.4% during the third quarter. Ameriprise Financial Inc. now owns 281,669 shares of the offshore drilling services provider’s stock worth $4,084,000 after buying an additional 53,477 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of Diamond Offshore Drilling by 10.4% during the third quarter. TD Asset Management Inc. now owns 41,400 shares of the offshore drilling services provider’s stock worth $600,000 after buying an additional 3,900 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Diamond Offshore Drilling by 90.4% during the third quarter. Schroder Investment Management Group now owns 742,900 shares of the offshore drilling services provider’s stock worth $10,631,000 after buying an additional 352,700 shares during the last quarter.

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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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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