Royal Bank of Canada set a $19.00 price target on Diamond Offshore Drilling (NYSE:DO) in a report released on Thursday morning. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.

Other analysts have also issued reports about the stock. B. Riley reissued a neutral rating on shares of Diamond Offshore Drilling in a research report on Wednesday, November 1st. FBR & Co upgraded Diamond Offshore Drilling from a sell rating to a neutral rating and set a $13.00 price objective on the stock in a report on Tuesday, October 10th. Jefferies Group set a $15.00 price objective on Diamond Offshore Drilling and gave the stock a hold rating in a report on Monday, October 30th. Cowen restated a hold rating and issued a $11.00 price objective on shares of Diamond Offshore Drilling in a report on Tuesday, September 5th. Finally, Citigroup downgraded Diamond Offshore Drilling from a neutral rating to a sell rating and set a $12.00 price objective on the stock. in a report on Thursday, October 12th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $14.91.

Shares of Diamond Offshore Drilling (NYSE DO) opened at $18.60 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.58. Diamond Offshore Drilling has a 52 week low of $10.06 and a 52 week high of $19.95. The company has a market cap of $2,518.13, a PE ratio of 15.25 and a beta of 1.29.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, October 30th. The offshore drilling services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. 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 10.86% and a return on equity of 6.23%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. equities research analysts predict that Diamond Offshore Drilling will post 0.88 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Arizona State Retirement System lifted its position in Diamond Offshore Drilling by 1.5% in the second quarter. Arizona State Retirement System now owns 27,200 shares of the offshore drilling services provider’s stock worth $295,000 after purchasing an additional 400 shares during the period. Texas Permanent School Fund increased its stake in shares of Diamond Offshore Drilling by 0.9% in the second quarter. Texas Permanent School Fund now owns 47,088 shares of the offshore drilling services provider’s stock valued at $510,000 after buying an additional 410 shares in the last quarter. Comerica Bank increased its stake in shares of Diamond Offshore Drilling by 0.8% in the second quarter. Comerica Bank now owns 55,321 shares of the offshore drilling services provider’s stock valued at $647,000 after buying an additional 437 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Diamond Offshore Drilling by 0.3% in the second quarter. Legal & General Group Plc now owns 200,738 shares of the offshore drilling services provider’s stock valued at $2,175,000 after buying an additional 671 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC increased its stake in shares of Diamond Offshore Drilling by 2.2% in the second quarter. Energy Opportunities Capital Management LLC now owns 137,465 shares of the offshore drilling services provider’s stock valued at $1,489,000 after buying an additional 2,950 shares in the last quarter.

ILLEGAL ACTIVITY NOTICE: “Royal Bank of Canada Reiterates $19.00 Price Target for Diamond Offshore Drilling (DO)” was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://theolympiareport.com/2017/12/24/royal-bank-of-canada-reiterates-19-00-price-target-for-diamond-offshore-drilling-do.html.

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)

Receive News & Ratings for Diamond Offshore Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond Offshore Drilling and related companies with Analyst Ratings Network's FREE daily email newsletter.