Diamond Offshore Drilling, Inc. (DO) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Diamond Offshore Drilling, Inc. (NYSE:DO) issued its quarterly earnings results on Monday. The offshore drilling services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05, Bloomberg Earnings reports. The company had revenue of $366.02 million during the quarter, compared to analyst estimates of $365.38 million. Diamond Offshore Drilling had a net margin of 11.19% and a return on equity of 5.77%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS.
Diamond Offshore Drilling (NYSE DO) opened at 17.31 on Tuesday. The stock’s 50 day moving average is $14.58 and its 200 day moving average is $12.83. The firm has a market cap of $2.38 billion, a PE ratio of 14.07 and a beta of 1.18. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65.
Several brokerages recently commented on DO. Pareto Securities raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Friday, August 18th. FBR & Co reissued a “hold” rating and issued a $13.00 price target on shares of Diamond Offshore Drilling in a report on Monday. Seaport Global Securities reissued a “sell” rating on shares of Diamond Offshore Drilling in a report on Monday, July 31st. Cowen and Company reissued a “hold” rating and issued a $11.00 price target on shares of Diamond Offshore Drilling in a report on Tuesday, September 5th. Finally, BidaskClub lowered shares of Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Nine investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. Diamond Offshore Drilling currently has an average rating of “Hold” and an average target price of $14.60.
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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.
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