Diamond Offshore Drilling Inc. Stock Downgraded (DO)
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- Despite its growing revenue, the company underperformed as compared with the industry average of 4.1%. Since the same quarter one year prior, revenues slightly increased by 2.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- The current debt-to-equity ratio, 0.32, is low and is below the industry average, implying that there has been successful management of debt levels. Along with this, the company maintains a quick ratio of 3.94, which clearly demonstrates the ability to cover short-term cash needs.
- The company, on the basis of change in net income from the same quarter one year ago, has underperformed when compared to that of the S&P 500 and greatly underperformed compared to the Energy Equipment & Services industry average. The net income has decreased by 8.0% when compared to the same quarter one year ago, dropping from $201.46 million to $185.33 million.
- Net operating cash flow has declined marginally to $244.02 million or 7.39% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
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