Diamond Offshore Drilling Inc (NYSE:DO) – B. Riley boosted their Q3 2018 EPS estimates for shares of Diamond Offshore Drilling in a note issued to investors on Tuesday, Zacks Investment Research reports. B. Riley analyst T. Curran now expects that the offshore drilling services provider will post earnings of $0.04 per share for the quarter, up from their prior forecast of $0.03. B. Riley has a “Hold” rating and a $13.00 price target on the stock. B. Riley also issued estimates for Diamond Offshore Drilling’s Q1 2019 earnings at $0.02 EPS, Q2 2019 earnings at $0.01 EPS and FY2019 earnings at $0.05 EPS.
Diamond Offshore Drilling (NYSE:DO) last announced its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Diamond Offshore Drilling had a net margin of 1.23% and a return on equity of 2.96%. The company had revenue of $346.20 million during the quarter, compared to the consensus estimate of $331.98 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s quarterly revenue was down 11.7% on a year-over-year basis.
Shares of Diamond Offshore Drilling (NYSE:DO) traded up $0.51 on Wednesday, hitting $15.21. 1,082,513 shares of the stock were exchanged, compared to its average volume of 2,020,000. Diamond Offshore Drilling has a 52 week low of $10.06 and a 52 week high of $20.41. The company has a market cap of $2,160.00, a P/E ratio of 108.64 and a beta of 1.25. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.52.
In other news, Director Charles Fabrikant sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $18.55, for a total value of $27,825.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $18,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of DO. Victory Capital Management Inc. acquired a new position in shares of Diamond Offshore Drilling in the 3rd quarter valued at approximately $126,000. M&T Bank Corp acquired a new position in Diamond Offshore Drilling during the 2nd quarter worth approximately $139,000. Ladenburg Thalmann Financial Services Inc. increased its position in Diamond Offshore Drilling by 331.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,641 shares of the offshore drilling services provider’s stock worth $142,000 after purchasing an additional 5,872 shares in the last quarter. Intl Fcstone Inc. acquired a new position in Diamond Offshore Drilling during the 2nd quarter worth approximately $169,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Diamond Offshore Drilling during the 4th quarter worth approximately $171,000.
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.
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