Diamond Offshore Drilling (DO) Given a $10.00 Price Target by Piper Jaffray Companies Analysts

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Piper Jaffray Companies set a $10.00 target price on Diamond Offshore Drilling (NYSE:DO) in a research note published on Tuesday. The firm currently has a sell rating on the offshore drilling services provider’s stock. Piper Jaffray Companies also issued estimates for Diamond Offshore Drilling’s Q4 2018 earnings at ($0.46) EPS, Q1 2019 earnings at ($0.70) EPS, Q2 2019 earnings at ($0.48) EPS, Q3 2019 earnings at ($0.40) EPS, Q4 2019 earnings at ($0.20) EPS, FY2019 earnings at ($1.79) EPS, FY2020 earnings at ($1.60) EPS, FY2021 earnings at ($0.87) EPS and FY2022 earnings at ($0.73) EPS.

Other analysts have also issued reports about the company. UBS Group raised Diamond Offshore Drilling from a reduce rating to an accumulate rating in a research note on Thursday, October 18th. Zacks Investment Research raised Diamond Offshore Drilling from a hold rating to a buy rating and set a $23.00 price target on the stock in a research note on Tuesday, October 9th. HSBC raised Diamond Offshore Drilling from a hold rating to a buy rating and raised their price target for the stock from $18.80 to $20.80 in a research note on Friday, September 21st. ValuEngine lowered Diamond Offshore Drilling from a strong-buy rating to a buy rating in a research note on Saturday, October 27th. Finally, TheStreet lowered Diamond Offshore Drilling from a c- rating to a d+ rating in a research note on Monday, July 30th. Eleven research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $16.66.

Diamond Offshore Drilling stock traded up $0.37 during midday trading on Tuesday, reaching $14.68. 3,027,873 shares of the company were exchanged, compared to its average volume of 2,087,675. The stock has a market cap of $2.01 billion, a PE ratio of 17.90 and a beta of 1.44. Diamond Offshore Drilling has a 1 year low of $13.56 and a 1 year high of $21.92. The company has a current ratio of 3.91, a quick ratio of 4.23 and a debt-to-equity ratio of 0.54.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, November 5th. The offshore drilling services provider reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. Diamond Offshore Drilling had a negative return on equity of 2.92% and a negative net margin of 11.11%. The firm had revenue of $286.30 million during the quarter, compared to analysts’ expectations of $281.74 million. During the same quarter last year, the business posted $0.25 EPS. The firm’s quarterly revenue was down 21.8% compared to the same quarter last year. On average, equities analysts predict that Diamond Offshore Drilling will post -1.14 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC lifted its stake in shares of Diamond Offshore Drilling by 1.3% in the 1st quarter. Guggenheim Capital LLC now owns 215,139 shares of the offshore drilling services provider’s stock valued at $3,153,000 after purchasing an additional 2,751 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Diamond Offshore Drilling by 5.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 55,655 shares of the offshore drilling services provider’s stock valued at $1,161,000 after purchasing an additional 2,975 shares in the last quarter. United Services Automobile Association lifted its stake in shares of Diamond Offshore Drilling by 25.5% in the 2nd quarter. United Services Automobile Association now owns 16,724 shares of the offshore drilling services provider’s stock valued at $349,000 after purchasing an additional 3,398 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Diamond Offshore Drilling in the 2nd quarter valued at about $108,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Diamond Offshore Drilling in the 3rd quarter valued at about $144,000.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. It provides services in floater market, including ultra-deepwater, deepwater, and mid-water. The company operates a fleet of 17 offshore drilling rigs, which comprises 4 drillships, 7 ultra-deepwater, 4 deepwater, and 2 mid-water semisubmersibles.

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Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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