Diamond Offshore Drilling, Inc. (DO) Coverage Initiated at HSBC Holdings plc

Investment analysts at HSBC Holdings plc started coverage on shares of Diamond Offshore Drilling, Inc. (NYSE:DO) in a report released on Thursday. The firm set a “hold” rating and a $15.80 price target on the offshore drilling services provider’s stock. HSBC Holdings plc’s target price suggests a potential upside of 3.40% from the stock’s current price.

A number of other research analysts also recently commented on the company. Zacks Investment Research upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, October 16th. Citigroup Inc. downgraded Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and set a $12.00 price objective for the company. in a research note on Thursday, October 12th. FBR & Co upgraded Diamond Offshore Drilling from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a research note on Tuesday, October 10th. Deutsche Bank AG assumed coverage on Diamond Offshore Drilling in a research note on Tuesday, October 10th. They set a “hold” rating and a $15.00 price objective for the company. Finally, Bank of America Corporation downgraded Diamond Offshore Drilling from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $13.00 to $14.00 in a research note on Monday, October 9th. Nine equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.60.

Shares of Diamond Offshore Drilling (NYSE DO) traded down 0.39% during midday trading on Thursday, hitting $15.28. The company had a trading volume of 2,452,129 shares. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 12.42 and a beta of 1.19. The stock’s 50-day moving average price is $14.08 and its 200-day moving average price is $12.88. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.21. The firm had revenue of $399.30 million during the quarter, compared to the consensus estimate of $381.50 million. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. On average, equities research analysts forecast that Diamond Offshore Drilling will post $0.91 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Diamond Offshore Drilling, Inc. (DO) Coverage Initiated at HSBC Holdings plc” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/21/diamond-offshore-drilling-inc-do-coverage-initiated-at-hsbc-holdings-plc.html.

Several institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its holdings in shares of Diamond Offshore Drilling by 7.2% in the third quarter. Mutual of America Capital Management LLC now owns 50,486 shares of the offshore drilling services provider’s stock valued at $732,000 after buying an additional 3,389 shares during the period. Shell Asset Management Co. acquired a new stake in shares of Diamond Offshore Drilling in the third quarter valued at $415,000. Hikari Tsushin Inc. acquired a new stake in shares of Diamond Offshore Drilling i

A number of other research analysts also recently commented on the company. Zacks Investment Research upgraded Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, October 16th. Citigroup Inc. downgraded Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and set a $12.00 price objective for the company. in a research note on Thursday, October 12th. FBR & Co upgraded Diamond Offshore Drilling from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a research note on Tuesday, October 10th. Deutsche Bank AG assumed coverage on Diamond Offshore Drilling in a research note on Tuesday, October 10th. They set a “hold” rating and a $15.00 price objective for the company. Finally, Bank of America Corporation downgraded Diamond Offshore Drilling from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $13.00 to $14.00 in a research note on Monday, October 9th. Nine equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.60.

Shares of Diamond Offshore Drilling (NYSE DO) traded down 0.39% during midday trading on Thursday, hitting $15.28. The company had a trading volume of 2,452,129 shares. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 12.42 and a beta of 1.19. The stock’s 50-day moving average price is $14.08 and its 200-day moving average price is $12.88. Diamond Offshore Drilling has a 12 month low of $10.06 and a 12 month high of $22.65.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.21. The firm had revenue of $399.30 million during the quarter, compared to the consensus estimate of $381.50 million. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. On average, equities research analysts forecast that Diamond Offshore Drilling will post $0.91 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Diamond Offshore Drilling, Inc. (DO) Coverage Initiated at HSBC Holdings plc” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/21/diamond-offshore-drilling-inc-do-coverage-initiated-at-hsbc-holdings-plc.html.

Several institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its holdings in shares of Diamond Offshore Drilling by 7.2% in the third quarter. Mutual of America Capital Management LLC now owns 50,486 shares of the offshore drilling services provider’s stock valued at $732,000 after buying an additional 3,389 shares during the period. Shell Asset Management Co. acquired a new stake in shares of Diamond Offshore Drilling in the third quarter valued at $415,000. Hikari Tsushin Inc. acquired a new stake in shares of Diamond Offshore Drilling in the second quarter valued at $1,070,000. Intl Fcstone Inc. acquired a new stake in shares of Diamond Offshore Drilling in the second quarter valued at $169,000. Finally, Energy Opportunities Capital Management LLC lifted its holdings 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 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.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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