- DO has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $52.6 million.
- DO has traded 309,336 shares today.
- DO is trading at 3.86 times the normal volume for the stock at this time of day.
- DO is trading at a new high 7.09% above yesterday's close.
'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success. EXCLUSIVE OFFER: Get the inside scoop on opportunities in DO with the Ticky from Trade-Ideas. See the FREE profile for DO NOW at Trade-Ideas More details on DO: Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. The company provides services in floater market, such as ultra-deepwater, deepwater, and mid-water; and non-floater or jack-up market. The stock currently has a dividend yield of 2.6%. Currently there are no analysts that rate Diamond Offshore Drilling a buy, 7 analysts rate it a sell, and 9 rate it a hold. The average volume for Diamond Offshore Drilling has been 3.1 million shares per day over the past 30 days. has a market cap of $2.7 billion and is part of the basic materials sector and energy industry. The stock has a beta of 0.71 and a short float of 23.4% with 6.07 days to cover. Shares are down 45.9% year-to-date as of the close of trading on Friday. EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE. TheStreetRatings.com Analysis: TheStreet Quant Ratings rates Diamond Offshore Drilling as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself. Highlights from the ratings report include:
- The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and greatly outperformed compared to the Energy Equipment & Services industry average. The net income increased by 0.8% when compared to the same quarter one year prior, going from $89.71 million to $90.39 million.
- 43.35% is the gross profit margin for DIAMOND OFFSHRE DRILLING INC which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 14.25% is above that of the industry average.
- Despite the weak revenue results, DO has outperformed against the industry average of 31.4%. Since the same quarter one year prior, revenues slightly dropped by 8.4%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
- Net operating cash flow has decreased to $40.28 million or 37.37% when compared to the same quarter last year. In addition, when comparing the cash generation rate to the industry average, the firm's growth is significantly lower.
- Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. Compared to other companies in the Energy Equipment & Services industry and the overall market on the basis of return on equity, DIAMOND OFFSHRE DRILLING INC underperformed against that of the industry average and is significantly less than that of the S&P 500.
- You can view the full Diamond Offshore Drilling Ratings Report.
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