During the last session, Diamond Offshore Drilling Inc. (NYSE:DO)’s traded shares were 1.46 million. At the end of the trading day, the stock’s price was $11.60, reflecting an intraday loss of -4.53% or -$0.55. The 52-week high for the DO share is $13.30, that puts it down -14.66 from that peak though still a striking 55.43% gain since the share price plummeted to a 52-week low of $5.17. The company’s market capitalization is $1.19B, and the average intraday trading volume over the past 10 days was 0.91 million shares, and the average trade volume was 1.07 million shares over the past three months.
Diamond Offshore Drilling Inc. (DO) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. DO has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.11.
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Diamond Offshore Drilling Inc. (NYSE:DO) trade information
Diamond Offshore Drilling Inc. (DO) registered a -4.53% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.53% in intraday trading to $11.60 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -0.85%, and it has moved by 4.88% in 30 days. Based on these gigs, the overall price performance for the year is 59.34%. The short interest in Diamond Offshore Drilling Inc. (NYSE:DO) is 4.14 million shares and it means that shorts have 4.38 day(s) to cover.
The consensus price target of analysts on Wall Street is $17.60, which implies an increase of 34.09% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $15.00 and $20.00 respectively. As a result, DO is trading at a discount of -72.41% off the target high and -29.31% off the low.
Diamond Offshore Drilling Inc. (DO) estimates and forecasts
In the rating firms’ projections, revenue will increase 19.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $274 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $281.5 million by the end of Sep 2023.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -26.50%. While earnings are projected to return 95.20% in 2023.
Diamond Offshore Drilling Inc. is due to release its next quarterly earnings on May 09. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Diamond Offshore Drilling Inc. (NYSE:DO)’s Major holders
Diamond Offshore Drilling Inc. insiders own 0.95% of total outstanding shares while institutional holders control 84.55%, with the float percentage being 85.36%. Contrarius Investment Management Limited is the largest shareholder of the company, while 198 institutions own stock in it. As of Mar 30, 2023, the company held over 8.2 million shares (or 8.09% of all shares), a total value of $98.77 million in shares.
The next largest institutional holding, with 7.55 million shares, is of Wellington Management Group, LLP’s that is approximately 7.45% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $90.87 million.
Also, the Mutual Funds coming in first place with the largest holdings of Diamond Offshore Drilling Inc. (DO) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 2.95 million shares. This amounts to just over 2.91 percent of the company’s overall shares, with a $30.67 million market value. The same data shows that the other fund manager holds slightly less at 2.23 million, or about 2.20% of the stock, which is worth about $26.48 million.