$0.20 EPS Expected for Diamond Offshore Drilling, Inc. (DO) This Quarter

Brokerages expect that Diamond Offshore Drilling, Inc. (NYSE:DO) will post earnings of $0.20 per share for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Diamond Offshore Drilling’s earnings. The highest EPS estimate is $0.34 and the lowest is $0.10. Diamond Offshore Drilling posted earnings per share of $0.10 during the same quarter last year, which would suggest a positive year over year growth rate of 100%. The business is expected to announce its next earnings results before the market opens on Monday, October 30th.

According to Zacks, analysts expect that Diamond Offshore Drilling will report full year earnings of $0.91 per share for the current fiscal year, with EPS estimates ranging from $0.67 to $1.20. For the next year, analysts forecast that the company will post earnings of $0.09 per share, with EPS estimates ranging from ($0.48) to $0.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The business had revenue of $399.30 million for the quarter, compared to analysts’ expectations of $381.50 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the company. UBS AG upgraded Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $15.00 in a research report on Monday, September 25th. Jefferies Group LLC set a $14.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Saturday, July 1st. Clarkson Capital upgraded Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research report on Friday, September 1st. Seaport Global Securities reiterated a “sell” rating on shares of Diamond Offshore Drilling in a research report on Monday, July 31st. Finally, Cowen and Company reiterated a “hold” rating and issued a $11.00 price objective on shares of Diamond Offshore Drilling in a research report on Tuesday, September 5th. Nine analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.60.

Shares of Diamond Offshore Drilling (NYSE DO) traded down 1.211% during mid-day trading on Friday, reaching $15.095. The company had a trading volume of 1,721,905 shares. The stock has a 50 day moving average price of $14.08 and a 200 day moving average price of $12.88. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $22.65. The firm has a market capitalization of $2.07 billion, a PE ratio of 12.272 and a beta of 1.19.

Several hedge funds have recently bought and sold shares of the company. Advantus Capital Management Inc raised its stake in shares of Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock worth $138,000 after purchasing an additional 242 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of Diamond Offshore Drilling by 1.5% in the second quarter. State Treasurer State of Michigan now owns 26,600 shares of the offshore drilling services provider’s stock worth $288,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System raised its stake in shares of 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 last quarter. Texas Permanent School Fund raised 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 worth $510,000 after purchasing an additional 410 shares during the last quarter. Finally, Comerica Bank raised 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 worth $647,000 after purchasing an additional 437 shares during the last quarter.

TRADEMARK VIOLATION WARNING: This story was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/23/0-20-eps-expected-for-diamond-offshore-drilling-inc-do-this-quarter.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.

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According to Zacks, analysts expect that Diamond Offshore Drilling will report full year earnings of $0.91 per share for the current fiscal year, with EPS estimates ranging from $0.67 to $1.20. For the next year, analysts forecast that the company will post earnings of $0.09 per share, with EPS estimates ranging from ($0.48) to $0.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last announced its earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.21. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The business had revenue of $399.30 million for the quarter, compared to analysts’ expectations of $381.50 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the company. UBS AG upgraded Diamond Offshore Drilling from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $15.00 in a research report on Monday, September 25th. Jefferies Group LLC set a $14.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Saturday, July 1st. Clarkson Capital upgraded Diamond Offshore Drilling from a “neutral” rating to a “buy” rating in a research report on Friday, September 1st. Seaport Global Securities reiterated a “sell” rating on shares of Diamond Offshore Drilling in a research report on Monday, July 31st. Finally, Cowen and Company reiterated a “hold” rating and issued a $11.00 price objective on shares of Diamond Offshore Drilling in a research report on Tuesday, September 5th. Nine analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.60.

Shares of Diamond Offshore Drilling (NYSE DO) traded down 1.211% during mid-day trading on Friday, reaching $15.095. The company had a trading volume of 1,721,905 shares. The stock has a 50 day moving average price of $14.08 and a 200 day moving average price of $12.88. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $22.65. The firm has a market capitalization of $2.07 billion, a PE ratio of 12.272 and a beta of 1.19.

Several hedge funds have recently bought and sold shares of the company. Advantus Capital Management Inc raised its stake in shares of Diamond Offshore Drilling by 3.0% in the first quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock worth $138,000 after purchasing an additional 242 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of Diamond Offshore Drilling by 1.5% in the second quarter. State Treasurer State of Michigan now owns 26,600 shares of the offshore drilling services provider’s stock worth $288,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System raised its stake in shares of 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 last quarter. Texas Permanent School Fund raised 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 worth $510,000 after purchasing an additional 410 shares during the last quarter. Finally, Comerica Bank raised 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 worth $647,000 after purchasing an additional 437 shares during the last quarter.

TRADEMARK VIOLATION WARNING: This story was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/23/0-20-eps-expected-for-diamond-offshore-drilling-inc-do-this-quarter.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.

Get a free copy of the Zacks research report on Diamond Offshore Drilling (DO)

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

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