Diamond Offshore Drilling Inc. (DO) Given “Hold” Rating at Jefferies Group
Jefferies Group reissued their hold rating on shares of Diamond Offshore Drilling Inc. (NYSE:DO) in a report released on Saturday morning. Jefferies Group currently has a $17.00 target price on the offshore drilling services provider’s stock.
A number of other equities research analysts have also recently issued reports on DO. Vetr cut shares of Diamond Offshore Drilling from a strong-buy rating to a buy rating and set a $19.33 price objective for the company. in a research note on Thursday, September 29th. Zacks Investment Research lowered shares of Diamond Offshore Drilling from a buy rating to a hold rating in a report on Tuesday, July 19th. Credit Suisse Group AG reiterated a hold rating and set a $18.00 price target on shares of Diamond Offshore Drilling in a report on Wednesday, August 3rd. Howard Weil initiated coverage on shares of Diamond Offshore Drilling in a report on Wednesday, September 14th. They set a sector perform rating and a $17.00 price target for the company. Finally, Bank of America Corp. reiterated a buy rating and set a $28.00 price target on shares of Diamond Offshore Drilling in a report on Thursday, September 15th. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $20.20.
Diamond Offshore Drilling (NYSE:DO) opened at 17.16 on Friday. Diamond Offshore Drilling has a one year low of $14.18 and a one year high of $26.72. The firm’s market capitalization is $2.35 billion. The stock’s 50 day moving average is $16.67 and its 200-day moving average is $21.59.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. Diamond Offshore Drilling had a negative net margin of 30.20% and a positive return on equity of 9.12%. The company earned $388.75 million during the quarter, compared to analysts’ expectations of $374.17 million. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s revenue was down 38.7% on a year-over-year basis. On average, analysts anticipate that Diamond Offshore Drilling will post $1.01 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in DO. Balentine LLC boosted its stake in Diamond Offshore Drilling by 5.7% in the second quarter. Balentine LLC now owns 4,186 shares of the offshore drilling services provider’s stock worth $102,000 after buying an additional 226 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Diamond Offshore Drilling by 24,233.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,840 shares of the offshore drilling services provider’s stock worth $142,000 after buying an additional 5,816 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Diamond Offshore Drilling during the second quarter worth approximately $155,000. Mason Street Advisors LLC purchased a new stake in Diamond Offshore Drilling during the second quarter worth approximately $211,000. Finally, BlackRock Japan Co. Ltd purchased a new stake in Diamond Offshore Drilling during the second quarter worth approximately $214,000.
Diamond Offshore Drilling Company Profile
Diamond Offshore Drilling, Inc is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).
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