Diamond Offshore Drilling Inc. (NYSE:DO) Given Consensus Rating of “Hold” by Analysts
Shares of Diamond Offshore Drilling Inc. (NYSE:DO) have received an average rating of “Hold” from the twenty-eight research firms that are currently covering the firm. Five equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $21.96.
A number of research analysts recently weighed in on the stock. Vetr downgraded shares of Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating and set a $28.66 price objective on the stock. in a research report on Monday, July 18th. Evercore ISI restated a “hold” rating on shares of Diamond Offshore Drilling in a research report on Thursday, June 9th. Zacks Investment Research downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. KLR Group upgraded shares of Diamond Offshore Drilling from an “accumulate” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, May 31st. Finally, Bank of America Corp. began coverage on shares of Diamond Offshore Drilling in a research report on Sunday, June 19th. They issued a “buy” rating and a $24.32 price target on the stock.
Diamond Offshore Drilling (NYSE:DO) traded up 9.77% on Thursday, hitting $17.53. 4,251,026 shares of the stock were exchanged. The firm’s market cap is $2.40 billion. The company has a 50-day moving average of $20.33 and a 200 day moving average of $22.64. Diamond Offshore Drilling has a 12 month low of $14.18 and a 12 month high of $26.72.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story 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. The original version of this article is available at http://www.americanbankingnews.com/2016/09/08/diamond-offshore-drilling-inc-nysedo-given-consensus-rating-of-hold-by-analysts.html
Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, August 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The company had revenue of $388.75 million for the quarter, compared to the consensus estimate of $374.17 million. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue for the quarter was down 38.7% on a year-over-year basis. Equities research analysts expect that Diamond Offshore Drilling will post $1.07 earnings per share for the current fiscal year.
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).
Receive News & Ratings for Diamond Offshore Drilling Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Diamond Offshore Drilling Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.