Transocean Ltd. (RIG) Expected to Post Earnings of -$0.08 Per Share
Equities analysts expect that Transocean Ltd. (NYSE:RIG) will post ($0.08) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Transocean’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.02). Transocean posted earnings per share of $0.25 during the same quarter last year, which suggests a negative year over year growth rate of 132%. The business is expected to report its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Transocean will report full-year earnings of ($0.37) per share for the current financial year, with EPS estimates ranging from ($0.55) to ($0.22). For the next year, analysts forecast that the company will report earnings of ($1.01) per share, with EPS estimates ranging from ($1.19) to ($0.75). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Transocean.
Several research firms recently weighed in on RIG. Deutsche Bank AG reduced their target price on Transocean from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, April 18th. BMO Capital Markets reiterated a “sell” rating and set a $10.00 target price on shares of Transocean in a research report on Tuesday, April 18th. Credit Suisse Group set a $18.00 target price on Transocean and gave the stock a “buy” rating in a research report on Thursday, April 20th. Royal Bank Of Canada reiterated an “underperform” rating and set a $15.00 target price on shares of Transocean in a research report on Tuesday, April 25th. Finally, R. F. Lafferty reduced their target price on Transocean from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, May 8th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. Transocean currently has an average rating of “Hold” and a consensus price target of $12.73.
Transocean (NYSE RIG) traded up 2.1553% on Friday, hitting $8.3563. The stock had a trading volume of 6,414,521 shares. The stock’s 50 day moving average is $8.42 and its 200 day moving average is $10.94. The stock’s market cap is $3.27 billion. Transocean has a one year low of $7.67 and a one year high of $16.66.
A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado increased its stake in shares of Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 1,394 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Transocean during the first quarter worth approximately $108,000. WFG Advisors LP increased its stake in Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock worth $110,000 after buying an additional 2,562 shares in the last quarter. Advisor Partners LLC purchased a new stake in Transocean during the second quarter worth approximately $112,000. Finally, Dupont Capital Management Corp purchased a new stake in Transocean during the second quarter worth approximately $113,000. 67.32% of the stock is currently owned by hedge funds and other institutional investors.
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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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