Wall Street analysts expect Transocean LTD (NYSE:RIG) to post earnings of ($0.25) per share for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Transocean’s earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.41). Transocean reported earnings of $0.63 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 139.7%. The business is expected to issue its next quarterly earnings results after the market closes on Tuesday, February 20th.

On average, analysts expect that Transocean will report full-year earnings of ($0.35) per share for the current year, with EPS estimates ranging from ($0.67) to $0.04. For the next fiscal year, analysts anticipate that the business will report earnings of ($0.78) per share, with EPS estimates ranging from ($1.70) to ($0.16). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Transocean.

Transocean (NYSE:RIG) last announced its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The company had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $703.13 million. During the same quarter in the previous year, the company posted $0.25 EPS. The firm’s quarterly revenue was down 10.8% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Cowen set a $11.00 target price on shares of Transocean and gave the stock a “hold” rating in a research note on Thursday, January 11th. BMO Capital Markets set a $7.00 target price on shares of Transocean and gave the stock a “sell” rating in a research note on Wednesday, October 18th. Jefferies Group raised shares of Transocean from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Thursday, January 4th. Finally, Royal Bank of Canada set a $11.00 target price on shares of Transocean and gave the stock a “hold” rating in a research note on Sunday, November 12th. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. Transocean presently has a consensus rating of “Hold” and a consensus price target of $12.11.

Shares of Transocean (NYSE:RIG) traded down $0.16 on Tuesday, reaching $11.16. 8,954,352 shares of the company’s stock traded hands, compared to its average volume of 12,290,000. Transocean has a 52 week low of $7.20 and a 52 week high of $15.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.13 and a current ratio of 2.36. The firm has a market cap of $4,370.00, a PE ratio of -1.56 and a beta of 1.79.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Transocean by 12.1% in the 2nd quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock valued at $210,185,000 after buying an additional 2,756,207 shares during the period. State Street Corp raised its holdings in Transocean by 7.5% in the 2nd quarter. State Street Corp now owns 22,918,962 shares of the offshore drilling services provider’s stock valued at $188,616,000 after buying an additional 1,593,179 shares during the period. Dimensional Fund Advisors LP raised its holdings in Transocean by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 12,729,364 shares of the offshore drilling services provider’s stock valued at $136,965,000 after buying an additional 135,470 shares during the period. Contrarius Investment Management Ltd raised its holdings in Transocean by 10.3% in the 3rd quarter. Contrarius Investment Management Ltd now owns 10,742,267 shares of the offshore drilling services provider’s stock valued at $115,587,000 after buying an additional 1,002,237 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Transocean by 6.4% in the 3rd quarter. Van ECK Associates Corp now owns 5,953,402 shares of the offshore drilling services provider’s stock valued at $64,059,000 after buying an additional 356,048 shares during the period. Hedge funds and other institutional investors own 73.09% of the company’s stock.

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About Transocean

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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Earnings History and Estimates for Transocean (NYSE:RIG)

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