Wall Street analysts expect that Diamond Offshore Drilling, Inc. (NYSE:DO) will post earnings of $0.21 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Diamond Offshore Drilling’s earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.32. Diamond Offshore Drilling reported earnings per share of $0.10 during the same quarter last year, which would indicate a positive year-over-year growth rate of 110%. The business is expected to issue its next quarterly earnings results on Monday, October 30th.

According to Zacks, analysts expect that Diamond Offshore Drilling will report full year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.67 to $1.20. For the next fiscal year, analysts anticipate that the business will report earnings of $0.10 per share, with EPS estimates ranging from ($0.48) to $0.55. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Diamond Offshore Drilling.

Diamond Offshore Drilling (NYSE:DO) last posted its quarterly earnings data on Monday, July 31st. The offshore drilling services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.21. The company had revenue of $399.30 million for the quarter, compared to analyst estimates of $381.50 million. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share.

Several research firms have recently weighed in on DO. BidaskClub lowered Diamond Offshore Drilling from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Seaport Global Securities lowered Diamond Offshore Drilling from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $12.00 to $9.00 in a research report on Wednesday, June 21st. Jefferies Group LLC set a $14.00 price objective on Diamond Offshore Drilling and gave the stock a “hold” rating in a research report on Saturday, July 1st. Pareto Securities raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, August 18th. Finally, Royal Bank Of Canada raised Diamond Offshore Drilling from an “underperform” rating to a “sector perform” rating and set a $15.00 price objective for the company in a research report on Friday, August 25th. Nine investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.64.

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A number of hedge funds have recently added to or reduced their stakes in the business. Advantus Capital Management Inc boosted its stake in Diamond Offshore Drilling by 3.0% during the 1st quarter. Advantus Capital Management Inc now owns 8,254 shares of the offshore drilling services provider’s stock valued at $138,000 after purchasing an additional 242 shares during the last quarter. Stephens Inc. AR boosted its stake in Diamond Offshore Drilling by 0.5% during the 1st quarter. Stephens Inc. AR now owns 55,534 shares of the offshore drilling services provider’s stock valued at $928,000 after purchasing an additional 264 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Diamond Offshore Drilling by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 30,457 shares of the offshore drilling services provider’s stock valued at $509,000 after purchasing an additional 368 shares during the last quarter. State Treasurer State of Michigan boosted its stake in Diamond Offshore Drilling by 1.5% during the 2nd quarter. State Treasurer State of Michigan now owns 26,600 shares of the offshore drilling services provider’s stock valued at $288,000 after purchasing an additional 400 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Diamond Offshore Drilling by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 27,200 shares of the offshore drilling services provider’s stock valued at $295,000 after purchasing an additional 400 shares during the last quarter.

Diamond Offshore Drilling (NYSE DO) traded up 1.19% during trading on Friday, reaching $14.48. The company’s stock had a trading volume of 1,801,142 shares. Diamond Offshore Drilling has a 1-year low of $10.06 and a 1-year high of $22.65. The stock has a market cap of $1.99 billion, a P/E ratio of 11.77 and a beta of 1.19. The company’s 50 day moving average price is $12.68 and its 200-day moving average price is $12.94.

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.

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

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