Brokerages forecast that Transocean Ltd. (NYSE:RIG) will report earnings of ($0.22) per share for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Transocean’s earnings, with estimates ranging from ($0.47) to ($0.04). 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 134.9%. The company is expected to report its next earnings results on Thursday, February 22nd.

On average, analysts expect that Transocean will report full year earnings of ($0.32) per share for the current year, with EPS estimates ranging from ($0.63) to $0.14. For the next year, analysts expect that the firm will report earnings of ($0.82) per share, with EPS estimates ranging from ($1.35) to ($0.18). Zacks’ EPS calculations are an average based on a survey of analysts that cover Transocean.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. Transocean had a negative return on equity of 42.09% and a negative net margin of 174.63%. The firm had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $703.13 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Transocean’s revenue for the quarter was down 10.8% compared to the same quarter last year.

A number of brokerages have recently weighed in on RIG. Jefferies Group LLC set a $9.00 price target on Transocean and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Nomura dropped their price target on Transocean from $8.00 to $7.00 and set a “reduce” rating on the stock in a research report on Thursday, August 17th. ValuEngine upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Pareto Securities upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $11.00 price target on shares of Transocean in a research report on Friday, September 1st. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.31.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its holdings 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 purchasing an additional 1,394 shares in the last quarter. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of Transocean in the third quarter valued at $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Transocean in the second quarter valued at $111,000. Advisor Partners LLC purchased a new stake in shares of Transocean in the second quarter valued at $112,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Transocean in the second quarter valued at $113,000. Institutional investors own 70.31% of the company’s stock.

Shares of Transocean (NYSE RIG) traded up $0.12 during trading on Tuesday, hitting $10.35. The stock had a trading volume of 8,160,000 shares, compared to its average volume of 13,220,000. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. The firm has a market cap of $4,050.00, a PE ratio of 13.10 and a beta of 1.81. Transocean has a fifty-two week low of $7.20 and a fifty-two week high of $16.66.

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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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