Somewhat Favorable News Coverage Somewhat Unlikely to Affect Diamond Offshore Drilling (DO) Stock Price
News headlines about Diamond Offshore Drilling (NYSE:DO) have trended somewhat positive recently, Accern reports. The research group identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Diamond Offshore Drilling earned a daily sentiment score of 0.11 on Accern’s scale. Accern also gave news coverage about the offshore drilling services provider an impact score of 46.7817872574286 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the news articles that may have impacted Accern’s rankings:
- Research Analysts Offer Predictions for Diamond Offshore Drilling, Inc.’s Q3 2017 Earnings (DO) (americanbankingnews.com)
- Contrasting Transocean (RIG) & Diamond Offshore Drilling (DO) (americanbankingnews.com)
- Diamond Offshore: Still Too Rough for a Buy – Barron’s (barrons.com)
- Keep Your Active Eyes on Diamond Offshore Drilling, Inc. (DO) – Wall Street Morning (wallstreetmorning.com)
- Diamond Offshore to Release Third Quarter 2017 Results on October 30 – PR Newswire (press release) (prnewswire.com)
Shares of Diamond Offshore Drilling (NYSE:DO) traded down 0.92% during midday trading on Wednesday, reaching $15.00. 555,811 shares of the company’s stock were exchanged. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 12.20 and a beta of 1.19. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $22.65. The firm has a 50 day moving average of $13.19 and a 200-day moving average of $12.90.
Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The business had revenue of $399.30 million for the quarter, compared to the consensus estimate of $381.50 million. During the same period last year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Diamond Offshore Drilling will post $0.92 earnings per share for the current year.
Several equities analysts have commented on DO shares. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Clarkson Capital raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and set a $12.00 target price (down previously from $14.00) on shares of Diamond Offshore Drilling in a research report on Tuesday, July 18th. UBS AG raised shares of Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $12.00 to $15.00 in a research report on Monday, September 25th. Finally, Royal Bank Of Canada set a $15.00 target price on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Saturday. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.54.
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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