Brokerages predict that Diamond Offshore Drilling Inc (NYSE:DO) will announce earnings per share (EPS) of ($0.38) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Diamond Offshore Drilling’s earnings. The lowest EPS estimate is ($0.46) and the highest is ($0.31). Diamond Offshore Drilling posted earnings of $0.25 per share in the same quarter last year, which would indicate a negative year over year growth rate of 252%. The business is scheduled to report its next earnings report before the market opens on Monday, November 5th.

On average, analysts expect that Diamond Offshore Drilling will report full-year earnings of ($1.22) per share for the current financial year, with EPS estimates ranging from ($1.47) to ($1.10). For the next year, analysts expect that the firm will report earnings of ($1.41) per share, with EPS estimates ranging from ($1.92) to ($0.93). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, July 30th. The offshore drilling services provider reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. Diamond Offshore Drilling had a negative return on equity of 1.06% and a negative net margin of 5.57%. The firm had revenue of $268.90 million for the quarter, compared to analysts’ expectations of $279.83 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was down 32.7% on a year-over-year basis.

A number of research firms recently commented on DO. Zacks Investment Research cut Diamond Offshore Drilling from a “strong-buy” rating to a “hold” rating in a report on Friday, October 12th. Credit Suisse Group upped their price objective on Diamond Offshore Drilling from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Tuesday, July 31st. Royal Bank of Canada reiterated a “hold” rating and issued a $23.00 price objective on shares of Diamond Offshore Drilling in a report on Tuesday, July 31st. Johnson Rice lowered Diamond Offshore Drilling from a “hold” rating to a “sell” rating and set a $15.00 target price on the stock. in a research report on Wednesday, October 17th. Finally, Barclays boosted their target price on Diamond Offshore Drilling from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Thursday, August 9th. Eleven research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $16.40.

In other Diamond Offshore Drilling news, SVP David L. Roland sold 1,744 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $19.73, for a total value of $34,409.12. Following the sale, the senior vice president now owns 9,194 shares of the company’s stock, valued at $181,397.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.03% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC increased its position in shares of Diamond Offshore Drilling by 1.3% during the first quarter. Guggenheim Capital LLC now owns 215,139 shares of the offshore drilling services provider’s stock worth $3,153,000 after acquiring an additional 2,751 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Diamond Offshore Drilling by 5.6% during the second quarter. Mutual of America Capital Management LLC now owns 55,655 shares of the offshore drilling services provider’s stock worth $1,161,000 after acquiring an additional 2,975 shares during the period. United Services Automobile Association increased its position in shares of Diamond Offshore Drilling by 25.5% during the second quarter. United Services Automobile Association now owns 16,724 shares of the offshore drilling services provider’s stock worth $349,000 after acquiring an additional 3,398 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of Diamond Offshore Drilling by 56.2% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 13,197 shares of the offshore drilling services provider’s stock worth $193,000 after acquiring an additional 4,750 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Diamond Offshore Drilling during the second quarter worth $108,000.

DO opened at $17.71 on Friday. Diamond Offshore Drilling has a one year low of $13.64 and a one year high of $21.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.23 and a quick ratio of 4.23.

Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.

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Earnings History and Estimates for Diamond Offshore Drilling (NYSE:DO)

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