Transocean Ltd. (NYSE:RIG)’s share price traded down 2.8% on Thursday . The stock traded as low as $9.36 and last traded at $9.43, with a volume of 7,612,077 shares traded. The stock had previously closed at $9.70.

Several equities analysts recently weighed in on the company. Citigroup Inc. reiterated a “sell” rating and set a $6.00 target price (up from $4.00) on shares of Transocean in a research report on Monday, May 16th. Simmons increased their target price on Transocean from $2.50 to $4.65 and gave the stock an “underweight” rating in a research report on Friday, August 5th. Canaccord Genuity downgraded Transocean from a “hold” rating to a “sell” rating and set a $8.50 target price on the stock. in a research report on Friday, July 8th. Royal Bank Of Canada reduced their target price on Transocean from $14.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, August 12th. Finally, Zacks Investment Research upgraded Transocean from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, June 29th. Twelve equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company’s stock. Transocean has an average rating of “Hold” and an average target price of $10.19.

The stock has a market cap of $3.49 billion and a P/E ratio of 2.79. The stock’s 50-day moving average is $10.87 and its 200 day moving average is $10.41.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.18. The firm had revenue of $943 million for the quarter. The firm’s revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter last year, the company earned $1.11 EPS. On average, equities analysts predict that Transocean Ltd. will post $0.95 earnings per share for the current year.

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 primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.

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