It’s an appealing income play to consider Diamond Offshore Drilling Inc. (DO)

The closing price of Diamond Offshore Drilling Inc. (NYSE: DO) was $12.07 for the day, down -1.71% from the previous closing price of $12.28. In other words, the price has decreased by -$0.21 from its previous closing price. On the day, 837416 shares were traded. DO stock price reached its highest trading level at $12.49 during the session, while it also had its lowest trading level at $12.03.

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Our analysis of DO’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 1.10 and its Current Ratio is at 1.10. In the meantime, Its Debt-to-Equity ratio is 0.71 whereas as Long-Term Debt/Eq ratio is at 0.68.

Upgrades & Downgrades

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Mar 01 when Savarino Dominic A sold 10,000 shares for $12.25 per share. The transaction valued at 122,516 led to the insider holds 25,309 shares of the business.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, DO now has a Market Capitalization of 1.11B and an Enterprise Value of 1.57B. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.40 while its Price-to-Book (P/B) ratio in mrq is 1.77. Its current Enterprise Value per Revenue stands at 1.77 whereas that against EBITDA is 23.28.

Stock Price History:

Over the past 52 weeks, DO has reached a high of $13.30, while it has fallen to a 52-week low of $5.17. The 50-Day Moving Average of the stock is 11.44, while the 200-Day Moving Average is calculated to be 9.93.

Shares Statistics:

DO traded an average of 1.10M shares per day over the past three months and 850.88k shares per day over the past ten days. A total of 101.33M shares are outstanding, with a floating share count of 100.28M. Insiders hold about 0.60% of the company’s shares, while institutions hold 95.30% stake in the company. Shares short for DO as of Apr 27, 2023 were 4.14M with a Short Ratio of 4.14M, compared to 4.36M on Mar 30, 2023. Therefore, it implies a Short% of Shares Outstanding of 4.08% and a Short% of Float of 4.11%.

Earnings Estimates

The firm’s stock currently is rated by 3 analysts. The consensus estimate for the next quarter is $0.05, with high estimates of $0.12 and low estimates of -$0.05.

Analysts are recommending an EPS of between $0.22 and -$0.24 for the fiscal current year, implying an average EPS of $0.02. EPS for the following year is $1.51, with 3 analysts recommending between $1.84 and $1.21.

Revenue Estimates

A total of 4 analysts have provided revenue estimates for DO’s current fiscal year. The highest revenue estimate was $1.14B, while the lowest revenue estimate was $805M, resulting in an average revenue estimate of $1.01B. In the same quarter a year ago, actual revenue was $841.28M, up 19.80% from the average estimate. Based on 4 analysts’ estimates, the company’s revenue will be $1.09B in the next fiscal year. The high estimate is $1.34B and the low estimate is $940M. The average revenue growth estimate for next year is up 8.20% from the average revenue estimate for this year.