Diamond Offshore Drilling, Inc. (DO) Expected to Earn Q2 2017 Earnings of $0.18 Per Share

Diamond Offshore Drilling, Inc. (NYSE:DO) – Seaport Global Securities lifted their Q2 2017 EPS estimates for Diamond Offshore Drilling in a research report issued on Wednesday. Seaport Global Securities analyst M. Brown now anticipates that the firm will earn $0.18 per share for the quarter, up from their previous estimate of $0.14. Seaport Global Securities also issued estimates for Diamond Offshore Drilling’s Q4 2017 earnings at $0.12 EPS and FY2017 earnings at $0.69 EPS.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, February 6th. The offshore drilling services provider reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.14. The firm earned $391.87 million during the quarter, compared to the consensus estimate of $358.09 million. Diamond Offshore Drilling had a positive return on equity of 5.19% and a negative net margin of 25.97%. The firm’s revenue was down 29.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. ILLEGAL ACTIVITY NOTICE: This report was originally posted by sleekmoney and is the sole property of of sleekmoney. If you are reading this report on another website, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this report can be viewed at http://sleekmoney.com/diamond-offshore-drilling-inc-do-expected-to-earn-q2-2017-earnings-of-0-18-per-share/1655684.html.

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

A number of other equities analysts also recently commented on DO. Instinet reiterated a “reduce” rating and issued a $14.00 price target on shares of Diamond Offshore Drilling in a research note on Tuesday. Pareto Securities raised shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating in a report on Tuesday. FBR & Co cut their target price on shares of Diamond Offshore Drilling from $16.00 to $13.00 and set an “underperform” rating on the stock in a report on Tuesday, November 1st. BMO Capital Markets set a $14.00 target price on shares of Diamond Offshore Drilling and gave the stock a “sell” rating in a report on Thursday, January 12th. Finally, Jefferies Group LLC cut their target price on shares of Diamond Offshore Drilling from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, January 30th. Nine analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.22.

Diamond Offshore Drilling (NYSE:DO) opened at 17.38 on Thursday. The firm’s market cap is $2.38 billion. The firm’s 50-day moving average price is $17.82 and its 200 day moving average price is $17.96. Diamond Offshore Drilling has a 52-week low of $14.67 and a 52-week high of $26.72.

Several hedge funds and other institutional investors have recently bought and sold shares of DO. American Century Companies Inc. bought a new position in Diamond Offshore Drilling during the second quarter valued at about $3,925,000. Pastel & Associes SA bought a new position in Diamond Offshore Drilling during the second quarter valued at about $7,764,000. Nationwide Fund Advisors increased its position in Diamond Offshore Drilling by 21.9% in the second quarter. Nationwide Fund Advisors now owns 34,518 shares of the offshore drilling services provider’s stock valued at $840,000 after buying an additional 6,197 shares during the last quarter. Teacher Retirement System of Texas increased its position in Diamond Offshore Drilling by 12.3% in the second quarter. Teacher Retirement System of Texas now owns 9,445 shares of the offshore drilling services provider’s stock valued at $230,000 after buying an additional 1,031 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Diamond Offshore Drilling by 31.9% in the second quarter. Vanguard Group Inc. now owns 7,205,279 shares of the offshore drilling services provider’s stock valued at $175,305,000 after buying an additional 1,741,584 shares during the last quarter.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by sleekmoney and is the sole property of of sleekmoney. If you are reading this report on another website, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this report can be viewed at http://sleekmoney.com/diamond-offshore-drilling-inc-do-expected-to-earn-q2-2017-earnings-of-0-18-per-share/1655684.html.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water).

5 Day Chart for NYSE:DO

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/diamond-offshore-drilling-inc-do-expected-to-earn-q2-2017-earnings-of-0-18-per-share/1655684.html

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