Capital One Financial Weighs in on Diamond Offshore Drilling Inc’s FY2017 Earnings (DO)

Diamond Offshore Drilling Inc (NYSE:DO) – Stock analysts at Capital One Financial dropped their FY2017 earnings estimates for Diamond Offshore Drilling in a note issued to investors on Monday. Capital One Financial analyst J. Gibney now expects that the offshore drilling services provider will post earnings of $0.98 per share for the year, down from their prior forecast of $1.04. Capital One Financial also issued estimates for Diamond Offshore Drilling’s Q4 2018 earnings at ($0.01) EPS.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, February 12th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $346.20 million during the quarter, compared to the consensus estimate of $331.98 million. During the same period in the prior year, the firm posted $0.27 EPS. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year.

DO has been the subject of a number of other reports. Jefferies Group reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Tuesday, October 31st. Cowen set a $18.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Thursday, January 11th. assumed coverage on shares of Diamond Offshore Drilling in a research report on Thursday, October 19th. They issued a “hold” rating and a $15.80 price objective for the company. Barclays reaffirmed a “neutral” rating on shares of Diamond Offshore Drilling in a research report on Sunday, November 5th. Finally, B. Riley set a $13.00 price objective on shares of Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Tuesday. Twelve analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.59.

Shares of Diamond Offshore Drilling (NYSE:DO) opened at $14.21 on Wednesday. Diamond Offshore Drilling has a 52-week low of $10.06 and a 52-week high of $20.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.58 and a quick ratio of 3.58. The stock has a market cap of $1,950.00, a PE ratio of 109.31 and a beta of 1.13.

Hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of 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 valued at $142,000 after buying an additional 5,872 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Diamond Offshore Drilling during the 3rd quarter valued at approximately $126,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Diamond Offshore Drilling during the 4th quarter valued at approximately $171,000. Wright Investors Service Inc. purchased a new stake in shares of Diamond Offshore Drilling during the 4th quarter valued at approximately $204,000. Finally, Investors Research Corp purchased a new stake in shares of Diamond Offshore Drilling during the 4th quarter valued at approximately $209,000.

In other news, Director Charles Fabrikant sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is owned by corporate insiders.

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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.

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

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