Shares of Transocean Ltd. (NYSE:RIG) 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 trading hands. The stock had previously closed at $9.70.

Several equities analysts recently issued reports on RIG shares. Citigroup Inc. reissued a “sell” rating and set a $6.00 price target (up from $4.00) on shares of Transocean in a report on Monday, May 16th. Simmons boosted their target price on shares of Transocean from $2.50 to $4.65 and gave the stock an “underweight” rating in a research note on Friday, August 5th. Canaccord Genuity downgraded shares of Transocean from a “hold” rating to a “sell” rating and set a $8.50 target price for the company. in a research note on Friday, July 8th. Royal Bank Of Canada dropped their target price on shares of Transocean from $14.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, August 12th. Finally, Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 target price 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 issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $10.19.

The stock has a 50 day moving average of $10.68 and a 200-day moving average of $10.40. The stock has a market cap of $3.52 billion and a PE ratio of 2.81.

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