Diamond Offshore Drilling, Inc. (NYSE:DO) shares saw a recent bid of $11.38 and 3.07M shares have exchanged hands in the recent trading session, yielding a -8.45% decline over the past week.DO price increased 2.06% or $-0.23 versus $11.15 at the end of the prior session. This change led market cap to move at $1.56B, putting the price -49.76% below the 52-week high and 13.18% above the 52-week low. The company’s stock has a normal trading capacity of 3.32M shares while the relative volume is 0.92.
Is Diamond Offshore Drilling, Inc. (NYSE:DO) Worth Buying?
By historical standards, Diamond Offshore Drilling, Inc. (NYSE:DO) remains a cheap stock. DO’s current price-earnings ratio amounts to 9.21 times earnings, above the average P/E ratio of 1.70 times earnings. For now, DO is the toast of Wall Street as its ABR stands at 3.20 with 1 out of 32 analysts rating the stock a buy. Over the short term, some market observers may have noticed that It has a 19.71% short float with 15 days to cover. The Stock becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. Company has far performed well this year, with the share price down -35.71% since January. Over the past 2 quarters, Diamond Offshore Drilling, Inc. (NYSE:DO) is down -34.52%, compared with a fall of nearly -20.36% for 3 months and about 2.80% for the past 30 days.
Diamond Offshore Drilling, Inc. (DO) Has Mean Target Price of $13.00
To stay one step ahead we extended our research by comparing different price targets. Diamond Offshore Drilling, Inc. (NYSE:DO) notched a 12-month high of $13.34 while $19.00 target is by far the most aggressive out of analysts who are currently evaluating DO, $5.66 higher than the next highest 52-week price estimate. The lowest 12-month price target for the shares is $9.00, which would be decrease of about -21% of its current value. The mean target of $13.00 should be compared with the price when the stock was languishing around $10.06 a share. And it remains to be seen which target price DO can achieve without sacrificing much as the company is holding a -45.16% fall for the past twelve months.
Diamond Offshore Drilling, Inc. Revenue Estimate is $1.48 Billion
Last time, the company shocked Wall Street by reporting EPS of $0.45, smashing the consensus of $0.24 per share. Revenue for the quarter also killed consensus, coming in at $399.29 Million, compared to the consensus of 382.78 Million. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $0.24. The company is expected to report EPS as high as $0.43 and as low as $0.10 per share. Similarly, full-year EPS forecasts have ranged between $0.67 and $1.19. The mean EPS estimate is $0.93. On the other side, sales forecasts for the current quarter are $369.06 Million. The stock is expected to report revenue as high as $393 Million and as low as $350.1 Million per share. Similarly, full-year sales forecasts have ranged between $1.44 Billion and $1.52 Billion. The mean revenue estimate is $1.48 Billion.
Over the last 5 years, Diamond Offshore Drilling, Inc. has averaged a -19.10% YoY EPS growth rate and a -13.60% revenue growth rate. Analysts are expecting EPS growth rates to be at -35.80% this quarter and EPS estimate for next year reflect -75.40% growth rate.
What Guru’s think About Is Diamond Offshore Drilling, Inc. (NYSE:DO)
Sell-side analysts also have something to say about this DO. BofA/Merrill had a markedly different take on 30/06/2017, proposing that DO is now considered Neutral versus prior Buy rating. Seaport Global Securities had a markedly different take on 21/06/2017, proposing that DO is now considered Sell versus prior Neutral rating. Barclays raised its rating on Diamond Offshore Drilling, Inc. to Equal Weight on 09/01/2017 in a reversal from its prior Underweight rating. RBC Capital Mkts had a markedly different take on 16/12/2016, proposing that DO is now considered Underperform versus prior Sector Perform rating.