Diamond Offshore Drilling Inc (DO) to Post Q1 2018 Earnings of $0.03 Per Share, Capital One Financial Forecasts

Diamond Offshore Drilling Inc (NYSE:DO) – Equities researchers at Capital One Financial increased their Q1 2018 earnings estimates for Diamond Offshore Drilling in a research note issued to investors on Tuesday. Capital One Financial analyst J. Gibney now expects that the offshore drilling services provider will earn $0.03 per share for the quarter, up from their previous estimate of $0.02. Capital One Financial also issued estimates for Diamond Offshore Drilling’s Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.03 EPS, FY2018 earnings at $0.09 EPS and FY2019 earnings at ($0.14) EPS.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. Diamond Offshore Drilling had a return on equity of 2.96% and a net margin of 1.23%. The firm had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $331.98 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was down 11.7% on a year-over-year basis.

DO has been the topic of a number of other reports. ValuEngine raised Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Clarkson Capital cut Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a research report on Thursday, January 18th. Cowen set a $18.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Thursday, January 11th. Royal Bank of Canada set a $19.00 price objective on Diamond Offshore Drilling and gave the company a “hold” rating in a research report on Thursday, December 21st. Finally, Piper Jaffray Companies reaffirmed an “underweight” rating on shares of Diamond Offshore Drilling in a research report on Thursday, January 11th. Twelve analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.49.

Diamond Offshore Drilling (DO) opened at $13.74 on Friday. Diamond Offshore Drilling has a 12-month low of $10.06 and a 12-month high of $20.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.97. The firm has a market capitalization of $1,890.00, a PE ratio of 98.14 and a beta of 1.13.

Large investors have recently added to or reduced their stakes in the business. Contrarius Investment Management Ltd increased its stake in Diamond Offshore Drilling by 13.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 7,512,035 shares of the offshore drilling services provider’s stock worth $108,925,000 after acquiring an additional 905,595 shares during the last quarter. Commonwealth Bank of Australia increased its stake in Diamond Offshore Drilling by 6.0% in the 3rd quarter. Commonwealth Bank of Australia now owns 185,541 shares of the offshore drilling services provider’s stock worth $2,687,000 after acquiring an additional 10,500 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Diamond Offshore Drilling by 959.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 625,300 shares of the offshore drilling services provider’s stock worth $9,067,000 after acquiring an additional 566,300 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Diamond Offshore Drilling in the 3rd quarter worth approximately $2,745,000. Finally, Schroder Investment Management Group increased its stake in Diamond Offshore Drilling by 90.4% in the 3rd quarter. Schroder Investment Management Group now owns 742,900 shares of the offshore drilling services provider’s stock worth $10,631,000 after acquiring an additional 352,700 shares during the last quarter.

In other Diamond Offshore Drilling news, Director Charles Fabrikant sold 1,500 shares of Diamond Offshore Drilling stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $18,550. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.03% of the company’s stock.

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About Diamond Offshore Drilling

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.

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

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Diamond Offshore Drilling Inc (DO) to Post Q1 2018 Earnings of $0.03 Per Share, Capital One Financial Forecasts

Diamond Offshore Drilling Inc (NYSE:DO) – Equities research analysts at Capital One Financial raised their Q1 2018 earnings per share (EPS) estimates for Diamond Offshore Drilling in a research report issued to clients and investors on Tuesday. Capital One Financial analyst J. Gibney now forecasts that the offshore drilling services provider will earn $0.03 per share for the quarter, up from their prior estimate of $0.02. Capital One Financial also issued estimates for Diamond Offshore Drilling’s Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.03 EPS, FY2018 earnings at $0.09 EPS and FY2019 earnings at ($0.14) EPS.

DO has been the topic of a number of other reports. ValuEngine raised shares of Diamond Offshore Drilling from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Clarkson Capital downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “neutral” rating in a report on Thursday, January 18th. Cowen set a $18.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Thursday, January 11th. Royal Bank of Canada set a $19.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Thursday, December 21st. Finally, Piper Jaffray Companies reaffirmed an “underweight” rating on shares of Diamond Offshore Drilling in a report on Thursday, January 11th. Twelve analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.49.

Diamond Offshore Drilling (DO) opened at $13.74 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.58 and a current ratio of 3.97. The stock has a market cap of $1,890.00, a price-to-earnings ratio of 98.14 and a beta of 1.13. Diamond Offshore Drilling has a fifty-two week low of $10.06 and a fifty-two week high of $20.41.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $346.20 million for the quarter, compared to the consensus estimate of $331.98 million. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS.

A number of institutional investors have recently made changes to their positions in DO. Victory Capital Management Inc. bought a new stake in Diamond Offshore Drilling in the 3rd quarter valued at about $126,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Diamond Offshore Drilling by 331.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock valued at $142,000 after acquiring an additional 5,872 shares during the period. Intl Fcstone Inc. bought a new stake in Diamond Offshore Drilling in the 2nd quarter valued at about $169,000. Itau Unibanco Holding S.A. bought a new stake in Diamond Offshore Drilling in the 4th quarter valued at about $171,000. Finally, Wright Investors Service Inc. bought a new stake in Diamond Offshore Drilling in the 4th quarter valued at about $204,000.

In related news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $18.55, for a total value of $27,825.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $18,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Diamond Offshore Drilling Inc (DO) to Post Q1 2018 Earnings of $0.03 Per Share, Capital One Financial Forecasts” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://stocknewstimes.com/2018/02/18/diamond-offshore-drilling-inc-do-to-post-q1-2018-earnings-of-0-03-per-share-capital-one-financial-forecasts.html.

About Diamond Offshore Drilling

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.

Earnings History and Estimates 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 MarketBeat.com's FREE daily email newsletter.

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