Diamond Offshore Drilling (DO) : Analyst Rating Update

Diamond Offshore Drilling (DO) has an average broker rating of 3.36, which is interpreted as a Hold, as rated by 16 equity analysts. Nonetheless, 1 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 9 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 4 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company. 1 considers that the stock is a Sell.

Diamond Offshore Drilling (DO) : The highest level Diamond Offshore Drilling (DO) is projected to reach is $34 for the short term and the lowest estimate is at $14. The consolidated price target from 15 rating analysts who initiate coverage on the stock is $21.53 and the possibility the share price can swing is $5.83.

Diamond Offshore Drilling (NYSE:DO): The stock opened at $24.31 on Wednesday but the bulls could not build on the opening and the stock topped out at $24.43 for the day. The stock traded down to $23.65 during the day, due to lack of any buying support eventually closed down at $24.14 with a loss of -1.75% for the day. The stock had closed at $24.57 on the previous day. The total traded volume was 3,219,562 shares.

Also, In the latest statement by the brokerage house, Bank of America reinstates its outlook on Diamond Offshore Drilling (NYSE:DO). The current rating of the shares is Buy, according to the research report released by the firm. The rating by the firm was issued on June 13, 2016. The company shares have dropped -0.53% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $26.72 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.70 and the 200 Day Moving Average price is recorded at $21.83.

Diamond Offshore Drilling, Inc. is a company engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of 38 offshore drilling rigs, including 27 semisubmersibles, six jack-ups and five drillships. The Companys diverse fleet enables the Company to offer a range of services around the world in both the floater market (ultra-deepwater, deepwater and mid-water) and the non-floater, or jack-up, market. The Companys floater fleet (semisubmersibles and drillships) is of three types: ultra-deepwater, deepwater, and mid-water. Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Companys jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Companys jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig.

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