Capital One Financial Brokers Reduce Earnings Estimates for Diamond Offshore Drilling Inc (NYSE:DO)

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Diamond Offshore Drilling Inc (NYSE:DO) – Research analysts at Capital One Financial reduced their Q1 2020 earnings per share (EPS) estimates for Diamond Offshore Drilling in a report issued on Monday, February 10th. Capital One Financial analyst L. Lemoine now anticipates that the offshore drilling services provider will post earnings per share of ($0.51) for the quarter, down from their previous estimate of ($0.46). Capital One Financial also issued estimates for Diamond Offshore Drilling’s Q2 2020 earnings at ($0.54) EPS, Q3 2020 earnings at ($0.67) EPS, FY2020 earnings at ($2.22) EPS and FY2021 earnings at ($2.11) EPS.

Diamond Offshore Drilling (NYSE:DO) last issued its quarterly earnings data on Monday, February 10th. The offshore drilling services provider reported ($0.45) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.21. Diamond Offshore Drilling had a negative net margin of 36.43% and a negative return on equity of 10.72%. The company had revenue of $276.40 million during the quarter, compared to the consensus estimate of $249.25 million. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on the stock. Cfra lowered their price objective on shares of Diamond Offshore Drilling from $5.00 to $3.50 and set a “sell” rating for the company in a research report on Monday, February 10th. ValuEngine downgraded shares of Diamond Offshore Drilling from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 21st. Barclays reissued a “buy” rating and set a $6.00 price objective on shares of Diamond Offshore Drilling in a research report on Tuesday. HSBC downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating and set a $5.70 target price for the company. in a research report on Friday, December 6th. Finally, Fearnley Fonds downgraded shares of Diamond Offshore Drilling from a “buy” rating to a “hold” rating and set a $6.00 target price for the company. in a research report on Monday, October 21st. Six analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $6.92.

Shares of DO stock opened at $3.75 on Thursday. The firm has a fifty day moving average of $5.81 and a 200-day moving average of $6.09. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.60. Diamond Offshore Drilling has a 12-month low of $3.64 and a 12-month high of $12.64. The company has a market capitalization of $524.55 million, a price-to-earnings ratio of -1.45 and a beta of 1.91.

Several institutional investors and hedge funds have recently made changes to their positions in DO. Caxton Associates LP bought a new stake in shares of Diamond Offshore Drilling during the 4th quarter valued at approximately $119,000. Point72 Hong Kong Ltd grew its holdings in shares of Diamond Offshore Drilling by 347.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 10,643 shares of the offshore drilling services provider’s stock valued at $77,000 after purchasing an additional 8,264 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Diamond Offshore Drilling by 14.4% during the 4th quarter. Jane Street Group LLC now owns 65,742 shares of the offshore drilling services provider’s stock valued at $473,000 after purchasing an additional 8,270 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Diamond Offshore Drilling by 37.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 130,127 shares of the offshore drilling services provider’s stock valued at $936,000 after purchasing an additional 35,253 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Diamond Offshore Drilling by 20.4% during the 4th quarter. Van ECK Associates Corp now owns 933,945 shares of the offshore drilling services provider’s stock valued at $6,715,000 after purchasing an additional 158,031 shares during the last quarter.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry worldwide. The company operates a fleet of 17 offshore drilling rigs, including 4 drillships and 13 semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.

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

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