Investors’ Current Hatred Of Diamond Offshore Drilling, Inc. (DO)

Senior Vice President – CFO Kornblau Scott Lee sold 692 shares in Diamond Offshore Drilling, Inc. (NYSE:DO) for $2,604 in transaction occurred on 2018/09/28. After making this transaction, the Senior Vice President – CFO owns a direct stake of 13,882 shares, worth $31,352, as per the last closing price. On 2018/07/31 Roland David L, SVP, General Counsel and Sec at DO, dumped 1,744 shares at an average price of $19.73 per share. The selling total is valued at $120,448.

Separately, it had been reported that some other DO insiders also took part of the insider trading activity. President and C.E.O., Edwards Marc Gerard Rex had divested 78,265 shares through a trade on 2018/05/09. Following this activity, the insider holds 1,561,387 shares. Wall Street’s most bullish Diamond Offshore Drilling, Inc. (NYSE:DO) analysts are predicting the share price to blow past $24 per share during the next 12 months. The current median share price forecast by them is $15, suggesting that the stock could increase 24.58% in that time frame. The average price target of $15.4 calls for a nearly 27.91% increase in the stock price.

Diamond Offshore Drilling, Inc. (DO) trading activity significantly improved as the volume at ready counter increased to 3,367,180 shares versus 2,321,915 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 1,737,835 shares. The share price dropped -4.82% in recent trade and currently has a stock-market value of $1.7B. The shares finished at $12.04, after trading as low as $11.51 earlier in the session. It hit an intraday high Thursday at $12.28. The stock is now 0.67% above against its bear-market low of $11.96 on December 06, 2018. It has retreated -82.06% since it’s 52-week high of $21.92 reached in June. Now the market price is down -27.9% on the year and down -35.23% YTD.

DO’s 50 day simple moving average (SMA 50) price is $15.82 and its 200-day simple moving average (SMA 200) price is $17.36. The company’s stock currently has a total float of 137.35M shares. Its weekly volatility is hovering around 4.66% and felt 5.35% volatility in price over a month. On the upside, the share price will test short term resistance at around $12.38. On a downside, the stock is likely to find some support, which begins at $11.61. The failure to get near-term support could push it to $11.17.

It had seen a positive analyst call from Clarksons Platou, which upgraded the stock from Neutral to Buy on November 08. Analysts at Johnson Rice, shed their positive views on October 17 by lowering it fromHold to Sell. The stock lost favor of JP Morgan analysts who expressed their lack of confidence in it using a downgrade from Neutral to Underweight on October 12.

Also, it is trading at rather inexpensive levels at just over 0.45x price/book and 1.42x price/sales. Compared to others, Diamond Offshore Drilling, Inc. is in a different league with regards to profitability, having net margins of -11.1%. To put some perspective around this, the industry’s average net margin is -27.17%. DO’s ROE is -3.6%, which is also considerably better than the industry’s ROE of -29.77%. It’s also very liquid in the near term, with a current ratio of 3.9. The stock has a debt/capital of 0.

Shares of Diamond Offshore Drilling, Inc. (DO) have dropped -11% since the company’s last earnings report. Over the past 12 fiscal quarters, Diamond Offshore Drilling, Inc. (NYSE:DO) has topped consensus earnings estimates in 11 quarters (91%), missed earnings in 1 quarters (8%), whereas at 0 occasion EPS met analyst expectations. DO last reported earnings on November 05, 2018 when it released Sep-18 results that exceeded expectations. The company raked in -$0.26 per share, -99.04% change on the same period last year. That was better than consensus for -$0.36. Revenue for the recent quarter stood at $286.32 million, down -22% on last year and above the $280.7 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $232 million to $279.06 million, which should be compared with $310.62 million generated last year. EPS is seen in a range of -$0.5 to -$0.21, against the -$0.05 reported a year ago.