The firm now has a $19.00 target price on the offshore drilling services provider’s stock, down from their prior target price of $22.00. The rating firm gave a Reduce rating to this stock in a research note on April 8, 2016.
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Some buy side analysts are also providing their Analysis on Diamond Offshore Drilling, Inc., where 1 analysts have rated the stock as Strong buy, 1 analysts have given a Buy signal, 21 said it’s a HOLD, 7 reported it as Underperform and 5 analysts rated the stock as Sell. Jefferies Group reaffirmed a “hold” rating on shares of Diamond Offshore Drilling in a research report on Monday, July 11th. Scotiabank reaffirmed a “sector perform” rating on shares of Diamond Offshore Drilling in a research note on Wednesday, September 14th. They now have a Dollars 22 price target on the stock. The analyst recommendations from a month ago are 2 Buy, 0 Overweight, 16 Sell, 16 Hold and 3 Underweight. The consensus price target (PT) of $18.08 means that the market expects Company shares to increase by 14.43% in the short run.
Diamond Offshore Drilling Inc opened for trading at $14.95 and hit $15.52 on the upside on Tuesday, eventually ending the session at $15.26, with a gain of 2.14% or 0.32 points. The stock had a trading volume of 3,633,368 shares. According to the latest information available, the market cap of the company is $3,230 M. In the last month the stock has moved in price -18.05%, with a one year change of -20.61%. Diamond Offshore Drilling has a 12 month low of $14.18 and a 12 month high of $26.72.
Diamond Offshore Drilling Inc (NYSE:DO) is expected to release the earnings of its current quarter on 11/7/16. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm earned $388.75 million during the quarter, compared to analyst estimates of $374.17 million. Diamond Offshore Drilling had a positive return on equity of 9.12% and a negative net margin of 30.20%. The Company’s primary business is to contract its drilling rigs related equipment and work crews primarily on a day rate basis to drill oil and gas wells. During the same period previous year, the firm posted $0.66 earnings per share. On average, analysts anticipate that Diamond Offshore Drilling will post $1.02 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company.
09/02/2016 – Diamond Offshore Drilling, Inc. had its “neutral” rating reiterated by analysts at Citigroup. Balentine LLC now owns 4,186 shares of the offshore drilling services provider’s stock worth $102,000 after buying an additional 226 shares in the last quarter. Tower Research Capital LLC TRC now owns 5,840 shares of the offshore drilling services provider’s stock worth $142,000 after buying an additional 5,816 shares in the last quarter.
04/07/2016 – Nomura began new coverage on Diamond Offshore Drilling, Inc. giving the company a “reduce” rating. Mason Street Advisors LLC bought a new stake in Diamond Offshore Drilling during the second quarter worth about $211,000. Finally, Societe Generale acquired a new stake in Diamond Offshore Drilling during the second quarter worth $214,000. The number of shares now owned by investors are 369.78 mln. The Companys fleet includes Ultra-Deepwater Rigs Deepwater Semisubmersibles and Jackups.
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Goldman Sachs Group Inc. lowered shares of Diamond Offshore Drilling Inc.
