Loews (L – Get Report) shares are slumping 2.6% to $37.12 on Monday morning after the hotel, energy and financial services conglomerate reported second quarter 2015 earnings results that missed analysts’ estimates. Clarkson Capital lowered shares of Diamond Offshore Drilling from a “hold” rating to a “sell” rating and set a $17.00 target price for the company.in a report on Friday, July 10th.
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The company’s net profit rose to $90.4 million, or 66 cents per share, in the quarter ended June 30 from $89.7 million, or 65 cents per share. Diamond Offshore Drilling has a 52 week low of $20.60 and a 52 week high of $47.34. The dividend growth rate has evolved at the pace of 2.8% over the last 5 years and the payout ratio stands at 15%.
The Houston-based firm’s stocks closed about the New York Stock Market at $21.95 on Friday.
Diamond Offshore Drilling Inc (NYSE:DO) stock is now trading 55.18% below its 52-week-high, 3.01% above its 52-week-low.
Terex Corporation (NYSE:TEX) remained among day losers during the previous trading session, opened at the price of $21.71, whereas its previous closing price was recorded at $21.43. Finally, Barclays began coverage on Diamond Offshore Drilling in a research report on Thursday, June 11th. Eleven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Diamond Offshore Drilling, Inc., a NYQ listed company, has a current market cap of 2.91B and on average over the past 3 months has seen 1925830 shares trade hands on a daily basis.
The stock price of Diamond Offshore Drilling Inc. dived 42.66% over the last 200 days, and is in strong down trend. For the current year, research firms are anticipating earnings of 1.99 per share. The stock has a 50-day moving average of $38.75 and a 200-day moving average of $40.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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The company said its quarterly profit dropped due to lower revenue from its Diamond Offshore Drilling unit and its insurance business. Diamond Offshore’s fleet consists of 24 semisubmersibles, one of which is under construction, five dynamically positioned drillships, and six jack-ups. The Organization ‘s jack-ups are useful from 20 feet to 350 feet. All the Organization ‘s jack-up rigs are designed with a cantilever system which allows the rig to extend its drilling package within the aft end of the rig.
