Equities research analysts at Credit Suisse (NYSE: CS) lowered their earnings per share estimates on shares of Diamond Offshore Drilling, Inc. (NYSE: DO) in a research note to investors on Friday. The analysts currently have an "underperform" rating and a $67.00 price target on the stock.

Separately, analysts at RBC Capital (NYSE: RY) cut their price target on shares of Diamond Offshore Drilling, Inc. from $84.00 to $80.00 in a research note to investors on Friday. They now have a "sector perform" rating on the stock. Also, analysts at Global Hunter Securities cut their price target on shares of Diamond Offshore Drilling, Inc. from $71.00 to $68.00 in a research note to investors on Friday. They now have a "neutral" rating on the stock.

Shares of Diamond Offshore Drilling, Inc. traded up 1.05% during mid-day trading on Monday, hitting $70.95. Diamond Offshore Drilling, Inc. has a 52 week low of $57.76 and a 52 week high of $81.19. The stock's 50-day moving average is $69.32 and its 200-day moving average is $72.81. The company has a market cap of $9.864 billion and a price-to-earnings ratio of 10.67.

Diamond Offshore Drilling, Inc. last announced its quarterly results on Thursday, July 21st. The company reported $1.92 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.90 EPS by $0.02. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Diamond Offshore Drilling, Inc. will post $1.52 EPS next quarter.

Diamond Offshore Drilling, Inc. (Diamond Offshore) is a global offshore oil and gas drilling contractor with a fleet of 47 offshore rigs consisting of 32 semisubmersibles, 14 jack-ups and one drillship. The Company offers a range of services worldwide in various markets, including the deepwater, harsh environment, conventional semisubmersible and jack-up markets. The Company provides offshore drilling services to a customer base that includes independent oil and gas companies and government-owned oil companies. During the year ended December 31, 2009, Diamond Offshore performed services for 47 different customers. During 2009, one of its two customers in Brazil, Petroleo Brasileiro S.A., or Petrobras (a Brazilian multinational energy company that is majority-owned by the Brazilian government), accounted for 15% of its annual total consolidated revenues.