Analysts expect Diamond Offshore Drilling (NYSE:DO) to report ($0.26) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Diamond Offshore Drilling’s earnings. The highest EPS estimate is $0.07 and the lowest is ($0.46). Diamond Offshore Drilling posted earnings per share of $0.45 during the same quarter last year, which indicates a negative year-over-year growth rate of 157.8%. The firm is expected to announce its next quarterly earnings results on Monday, July 30th.
On average, analysts expect that Diamond Offshore Drilling will report full year earnings of ($0.53) per share for the current financial year, with EPS estimates ranging from ($0.95) to ($0.05). For the next financial year, analysts expect that the business will post earnings of ($0.30) per share, with EPS estimates ranging from ($0.65) to $0.10. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow Diamond Offshore Drilling.
Get Diamond Offshore Drilling alerts:Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, April 30th. The offshore drilling services provider reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.03. Diamond Offshore Drilling had a net margin of 1.00% and a return on equity of 1.78%. The company had revenue of $295.50 million for the quarter, compared to the consensus estimate of $295.89 million. During the same period in the prior year, the firm posted $0.17 EPS. The company’s quarterly revenue was down 21.0% compared to the same quarter last year.
DO has been the topic of a number of recent analyst reports. ValuEngine raised shares of Diamond Offshore Drilling from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. TheStreet raised shares of Diamond Offshore Drilling from a “d+” rating to a “c-” rating in a research report on Monday, January 22nd. Royal Bank of Canada set a $17.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Monday, February 12th. Susquehanna Bancshares set a $15.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Tuesday, February 13th. Finally, B. Riley set a $13.00 target price on shares of Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Tuesday, February 13th. Twelve analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Diamond Offshore Drilling currently has an average rating of “Hold” and an average target price of $13.93.
In related news, insider Marc Gerard Rex Edwards sold 78,265 shares of the stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $19.95, for a total transaction of $1,561,386.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank lifted its stake in shares of Diamond Offshore Drilling by 7.2% in the 4th quarter. Swiss National Bank now owns 120,953 shares of the offshore drilling services provider’s stock worth $2,249,000 after acquiring an additional 8,100 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Diamond Offshore Drilling in the 4th quarter worth $427,000. American Century Companies Inc. lifted its stake in shares of Diamond Offshore Drilling by 104.8% in the 4th quarter. American Century Companies Inc. now owns 623,703 shares of the offshore drilling services provider’s stock worth $11,595,000 after acquiring an additional 319,119 shares during the period. Orbis Allan Gray Ltd acquired a new stake in shares of Diamond Offshore Drilling in the 4th quarter worth $7,542,000. Finally, US Bancorp DE lifted its stake in shares of Diamond Offshore Drilling by 77.5% in the 4th quarter. US Bancorp DE now owns 11,957 shares of the offshore drilling services provider’s stock worth $222,000 after acquiring an additional 5,219 shares during the period.
Shares of NYSE DO traded down $0.22 during mid-day trading on Thursday, reaching $18.98. The company had a trading volume of 1,552,197 shares, compared to its average volume of 1,774,367. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.51 and a quick ratio of 4.51. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 23.15 and a beta of 1.16. Diamond Offshore Drilling has a 52-week low of $18.96 and a 52-week high of $19.26.
About Diamond Offshore Drilling
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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