Transocean (NYSE:RIG) released its earnings results on Monday. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16, MarketWatch Earnings reports. Transocean had a negative net margin of 99.38% and a negative return on equity of 2.00%. The firm had revenue of $816.00 million during the quarter, compared to analyst estimates of $779.19 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year.
Transocean stock opened at $10.40 on Tuesday. The stock has a market cap of $5.07 billion, a PE ratio of -173.33 and a beta of 1.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.49 and a quick ratio of 1.35. Transocean has a one year low of $8.70 and a one year high of $14.47.
RIG has been the subject of several recent research reports. Fearnley Fonds lowered shares of Transocean from a “buy” rating to an “accumulate” rating in a research note on Wednesday, August 1st. ValuEngine lowered shares of Transocean from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Credit Suisse Group set a $16.00 target price on shares of Transocean and gave the company a “buy” rating in a research note on Friday, July 13th. Tudor Pickering upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Finally, UBS Group set a $15.00 target price on shares of Transocean and gave the company a “buy” rating in a research note on Wednesday, September 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $13.79.
Transocean Company Profile
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.
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