Diamond Offshore Drilling Inc (NYSE:DO) – Research analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of Diamond Offshore Drilling in a research note issued on Thursday, Zacks Investment Research reports. Jefferies Group analyst E. Royes expects that the offshore drilling services provider will post earnings per share of ($0.29) for the quarter. Jefferies Group currently has a “Sell” rating and a $12.00 price target on the stock. Jefferies Group also issued estimates for Diamond Offshore Drilling’s Q2 2018 earnings at ($0.18) EPS, Q3 2018 earnings at ($0.04) EPS, Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.55) EPS, FY2019 earnings at ($0.60) EPS and FY2020 earnings at ($0.90) EPS.
Diamond Offshore Drilling (NYSE:DO) last released its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $346.20 million for the quarter, compared to analyst estimates of $331.98 million. Diamond Offshore Drilling had a return on equity of 2.96% and a net margin of 1.23%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share.
Shares of Diamond Offshore Drilling (NYSE:DO) traded up $0.20 during midday trading on Monday, hitting $15.18. The stock had a trading volume of 800,329 shares, compared to its average volume of 1,767,838. The company has a market capitalization of $2,080.00, a price-to-earnings ratio of 108.43 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.97 and a current ratio of 3.97. Diamond Offshore Drilling has a one year low of $10.06 and a one year high of $20.41.
In related news, Director Charles Fabrikant sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $18.55, for a total transaction of $27,825.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $18,550. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.03% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in DO. Contrarius Investment Management Ltd raised its position in shares of 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 in the last quarter. State Street Corp grew its position in Diamond Offshore Drilling by 27.3% in the second quarter. State Street Corp now owns 3,021,468 shares of the offshore drilling services provider’s stock worth $32,721,000 after acquiring an additional 648,077 shares in the last quarter. Majedie Asset Management Ltd grew its position in Diamond Offshore Drilling by 121.9% in the third quarter. Majedie Asset Management Ltd now owns 2,570,583 shares of the offshore drilling services provider’s stock worth $37,273,000 after acquiring an additional 1,412,327 shares in the last quarter. Horseman Capital Management Ltd purchased a new position in Diamond Offshore Drilling in the third quarter worth $30,944,000. Finally, Schroder Investment Management Group grew its position in Diamond Offshore Drilling by 127.6% in the fourth quarter. Schroder Investment Management Group now owns 1,691,100 shares of the offshore drilling services provider’s stock worth $31,437,000 after acquiring an additional 948,200 shares in the last quarter.
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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