Equities analysts expect Transocean Ltd. (NYSE:RIG) to report earnings of ($0.11) per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Transocean’s earnings, with estimates ranging from ($0.23) to ($0.02). Transocean posted earnings of $0.17 per share during the same quarter last year, which would indicate a negative year over year growth rate of 164.7%. The business is scheduled to report its next earnings report after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Transocean will report full year earnings of ($0.49) per share for the current year, with EPS estimates ranging from ($0.85) to ($0.19). For the next year, analysts anticipate that the firm will post earnings of ($1.04) per share, with EPS estimates ranging from ($1.47) to ($0.72). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Transocean.
Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. Transocean had a return on equity of 2.57% and a net margin of 17.28%. The company had revenue of $785 million during the quarter, compared to analysts’ expectations of $737.51 million.
Several research firms have recently issued reports on RIG. Jefferies Group LLC reaffirmed a “hold” rating and issued a $14.00 target price (up from $13.00) on shares of Transocean in a report on Tuesday, April 11th. BMO Capital Markets reaffirmed a “sell” rating and issued a $10.00 target price on shares of Transocean in a report on Tuesday, April 18th. Deutsche Bank AG reduced their target price on Transocean from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, April 18th. Credit Suisse Group set a $18.00 price objective on Transocean and gave the company a “buy” rating in a research note on Thursday, April 20th. Finally, Royal Bank Of Canada reiterated an “underperform” rating and issued a $15.00 price objective on shares of Transocean in a research note on Tuesday, April 25th. Fifteen investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $12.86.
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Transocean (RIG) traded up 0.24% during mid-day trading on Monday, hitting $8.53. The stock had a trading volume of 1,519,164 shares. The firm’s 50-day moving average price is $8.45 and its 200-day moving average price is $11.62. The stock has a market cap of $3.34 billion, a PE ratio of 5.13 and a beta of 1.67. Transocean has a 1-year low of $7.67 and a 1-year high of $16.66.
In other Transocean news, SVP David A. Tonnel sold 9,450 shares of Transocean stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $11.28, for a total value of $106,596.00. Following the completion of the sale, the senior vice president now owns 54,845 shares of the company’s stock, valued at approximately $618,651.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in shares of Transocean during the fourth quarter valued at $874,000. Federated Investors Inc. PA acquired a new position in shares of Transocean during the fourth quarter valued at $101,000. FMR LLC boosted its position in shares of Transocean by 14.4% in the fourth quarter. FMR LLC now owns 168,393 shares of the offshore drilling services provider’s stock valued at $2,482,000 after buying an additional 21,218 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Transocean by 20.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,470 shares of the offshore drilling services provider’s stock valued at $199,000 after buying an additional 2,270 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in shares of Transocean by 15.1% in the fourth quarter. Quadrature Capital Ltd now owns 527,955 shares of the offshore drilling services provider’s stock valued at $7,779,000 after buying an additional 69,214 shares in the last quarter. 67.53% of the stock is owned by institutional investors and hedge funds.
Transocean Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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