Diamond Offshore Drilling, Inc. (DO) PT Set at $12.00 by Jefferies Group LLC
Diamond Offshore Drilling, Inc. (NYSE:DO) has been given a $12.00 target price by investment analysts at Jefferies Group LLC in a research note issued to investors on Friday. The firm presently has a “hold” rating on the offshore drilling services provider’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 5.45% from the company’s current price.
Several other equities analysts have also commented on DO. BidaskClub upgraded Diamond Offshore Drilling from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Bank of America Corporation lowered Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $12.00 in a research note on Friday, June 30th. Piper Jaffray Companies reiterated a “hold” rating and issued a $12.50 target price on shares of Diamond Offshore Drilling in a research note on Thursday, August 3rd. Royal Bank Of Canada upgraded Diamond Offshore Drilling from an “underperform” rating to a “sector perform” rating and set a $15.00 target price for the company in a research note on Friday. Finally, Zephirin Group reiterated a “sell” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, August 2nd. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $15.58.
Shares of Diamond Offshore Drilling (NYSE DO) opened at 11.38 on Friday. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65. The company has a 50-day moving average of $11.41 and a 200 day moving average of $13.60. The company has a market cap of $1.56 billion, a PE ratio of 9.25 and a beta of 1.12.
Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The business had revenue of $399.30 million for the quarter, compared to the consensus estimate of $381.50 million. During the same period in the prior year, the business earned $0.16 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that Diamond Offshore Drilling will post $0.93 earnings per share for the current year.
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Several large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in Diamond Offshore Drilling by 10.2% in the first quarter. Lazard Asset Management LLC now owns 6,685 shares of the offshore drilling services provider’s stock worth $111,000 after buying an additional 620 shares during the period. Raymond James Trust N.A. bought a new stake in Diamond Offshore Drilling during the second quarter worth about $118,000. BlueMountain Capital Management LLC bought a new stake in Diamond Offshore Drilling during the second quarter worth about $119,000. Zacks Investment Management bought a new stake in Diamond Offshore Drilling during the second quarter worth about $124,000. Finally, Advantus Capital Management Inc raised its stake in Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock worth $138,000 after buying an additional 242 shares during the period.
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.
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