-$0.67 Earnings Per Share Expected for Diamond Offshore Drilling Inc (NYSE:DO) This Quarter

Wall Street analysts expect Diamond Offshore Drilling Inc (NYSE:DO) to post earnings per share (EPS) of ($0.67) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Diamond Offshore Drilling’s earnings. The lowest EPS estimate is ($0.72) and the highest is ($0.62). Diamond Offshore Drilling reported earnings per share of ($0.26) during the same quarter last year, which would suggest a negative year over year growth rate of 157.7%. The company is scheduled to announce its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Diamond Offshore Drilling will report full-year earnings of ($2.78) per share for the current fiscal year, with EPS estimates ranging from ($2.90) to ($2.68). For the next fiscal year, analysts anticipate that the firm will report earnings of ($1.94) per share, with EPS estimates ranging from ($2.62) to ($1.65). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, August 5th. The offshore drilling services provider reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Diamond Offshore Drilling had a negative return on equity of 8.55% and a negative net margin of 32.78%. The firm had revenue of $216.70 million during the quarter, compared to analyst estimates of $228.46 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The business’s quarterly revenue was down 7.2% compared to the same quarter last year.

DO has been the topic of a number of recent analyst reports. SEB Equities upgraded shares of Diamond Offshore Drilling from a “sell” rating to a “hold” rating and cut their price objective for the stock from $10.00 to $7.70 in a report on Tuesday, June 18th. Scotiabank set a $7.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a report on Monday, August 26th. ValuEngine lowered shares of Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 26th. Bank of America cut their price objective on shares of Diamond Offshore Drilling from $5.00 to $3.50 and set an “underperform” rating on the stock in a report on Wednesday, August 28th. Finally, Royal Bank of Canada lowered shares of Diamond Offshore Drilling from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $11.00 to $10.00 in a report on Wednesday, September 25th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.66.

In other news, CFO Scott Lee Kornblau sold 5,819 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.69, for a total value of $50,567.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Advisory Services Network LLC grew its position in shares of Diamond Offshore Drilling by 5,817.6% during the 2nd quarter. Advisory Services Network LLC now owns 7,752 shares of the offshore drilling services provider’s stock valued at $69,000 after buying an additional 7,621 shares during the last quarter. Foundation Resource Management Inc. grew its position in shares of Diamond Offshore Drilling by 1.6% during the 3rd quarter. Foundation Resource Management Inc. now owns 330,487 shares of the offshore drilling services provider’s stock valued at $1,838,000 after buying an additional 5,211 shares during the last quarter. CIBC World Markets Inc. grew its position in shares of Diamond Offshore Drilling by 10.0% during the 1st quarter. CIBC World Markets Inc. now owns 26,560 shares of the offshore drilling services provider’s stock valued at $279,000 after buying an additional 2,404 shares during the last quarter. First Trust Advisors LP grew its position in shares of Diamond Offshore Drilling by 1.9% during the 2nd quarter. First Trust Advisors LP now owns 137,291 shares of the offshore drilling services provider’s stock valued at $1,218,000 after buying an additional 2,536 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Diamond Offshore Drilling by 48.4% during the 2nd quarter. Van ECK Associates Corp now owns 1,476,851 shares of the offshore drilling services provider’s stock valued at $13,100,000 after buying an additional 481,475 shares during the last quarter.

DO stock traded up $0.02 during trading on Monday, reaching $5.16. The stock had a trading volume of 2,969,631 shares, compared to its average volume of 2,866,779. Diamond Offshore Drilling has a 1-year low of $4.95 and a 1-year high of $20.85. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $710.50 million, a P/E ratio of -4.41 and a beta of 1.73. The firm has a fifty day moving average price of $6.56 and a 200 day moving average price of $8.50.

Diamond Offshore Drilling Company Profile

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.

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

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