Diamond Offshore Drilling Inc (Diamond) and Kirby Corporation (KirbyCorp) arrive on STOCK.com MT4 platform.
Image: Diamond Offshire Drilling
Diamond has recently been in the headlines regarding the cancellation of contracts and has seen a week’s loss of 10% on the New York stock exchange. PetrolBras, the Brazilian oil producer cancelled its drilling contract with Diamond on one rig, the ocean Baroness, alongside Pemex cancelling Diamond drilling contacts on 4 rigs. PetrolBras was downgraded to Junk status by Moody’s on Thursday and is looking to achieve massive spending cuts and rig closures to rescue the company from the fallout of its corruption scandal.
Diamond’s last quarterly earnings gave positive net income results, up by 6.7% when compared to the same quarter one year prior, from $92.62 million to $98.84 million. The company also has a strong gross profit margin of 46.79% and net profit margin of 14.63% - excellent for the industry despite the oil price slump. However, revenues declined by 3.7% and share price was down by 27.93% compared to a year ago.
Diamond is currently fighting some of the cancellations, which is why many analysts are seeing this stock as a HOLD.
Kirby Corporation is the premier tank barge operator in the United States, transporting bulk liquid products, petrochemicals, black oil, refined petroleum products and agricultural chemicals, plus dry-bulk commodities. Kirby also provides diesel engine services and distribution, and manufactures oilfield service equipment.
At the end of January this year Kirby announced record net earnings for the fourth quarter ended December 31, 2014 of $68.1 million, or $1.19 per share, compared with $64.3 million, or $1.13 per share, for the 2013 fourth quarter. Consolidated revenues for the 2014 fourth quarter increased 18% to $668.3 million compared with $568.4 million reported for the 2013 fourth quarter. Kirby also reported record net earnings for the 2014 year of $282.0 million, or $4.93 per share, compared with $253.1 million, or $4.44 per share, for 2013 which included a $0.20 per share benefit due to the reduction of the United earnout liability. Consolidated revenues for 2014 were $2.57 billion compared with $2.24 billion for 2013.
Recent share price has increased over 8% from the end of January and currently stands at $78.62 on the New York stock exchange. However over the course of a year, stocks have declined by 22.50%. Currently there are, according to The Street, ‘5 analysts that rate Kirby a buy, no analysts rate it a sell, and 4 rate it a hold.’
Both stocks are coming soon to the MT4 platform provided by STOCK.com.
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