Wall Street brokerages expect Transocean LTD (NYSE:RIG) to post earnings of ($0.07) per share for the current quarter, according to Zacks. Six analysts have issued estimates for Transocean’s earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at $0.03. Transocean reported earnings per share of $0.16 in the same quarter last year, which suggests a negative year-over-year growth rate of 143.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Transocean will report full year earnings of ($0.85) per share for the current financial year, with EPS estimates ranging from ($1.11) to ($0.50). For the next fiscal year, analysts expect that the company will post earnings of ($0.61) per share, with EPS estimates ranging from ($1.06) to ($0.39). Zacks’ EPS averages are a mean average based on a survey of research firms that cover Transocean.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, July 30th. The offshore drilling services provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.13. Transocean had a negative return on equity of 2.00% and a negative net margin of 99.38%. The firm had revenue of $790.00 million for the quarter, compared to analysts’ expectations of $768.68 million. Transocean’s quarterly revenue was up 5.2% compared to the same quarter last year.

A number of research firms recently commented on RIG. UBS Group set a $15.00 price objective on Transocean and gave the company a “buy” rating in a report on Wednesday. ValuEngine cut Transocean from a “strong-buy” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. restated a “sell” rating on shares of Transocean in a research note on Tuesday. Piper Jaffray Companies restated a “hold” rating and set a $13.30 price target on shares of Transocean in a research note on Friday, August 17th. Finally, BMO Capital Markets restated a “sell” rating and set a $8.00 price target on shares of Transocean in a research note on Friday, August 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Transocean presently has an average rating of “Hold” and an average price target of $12.75.

RIG traded up $0.02 during trading hours on Monday, reaching $10.85. The company’s stock had a trading volume of 12,654,132 shares, compared to its average volume of 14,010,261. Transocean has a fifty-two week low of $8.35 and a fifty-two week high of $14.34. The stock has a market capitalization of $5.00 billion, a PE ratio of -180.83 and a beta of 1.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 1.49.

In other news, Director Vincent J. Intrieri purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were bought at an average cost of $10.62 per share, for a total transaction of $106,200.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $106,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in shares of Transocean by 3.5% in the second quarter. Louisiana State Employees Retirement System now owns 118,500 shares of the offshore drilling services provider’s stock valued at $1,593,000 after acquiring an additional 4,000 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Transocean by 12.2% in the first quarter. PNC Financial Services Group Inc. now owns 39,025 shares of the offshore drilling services provider’s stock valued at $387,000 after acquiring an additional 4,243 shares in the last quarter. NumerixS Investment Technologies Inc raised its stake in shares of Transocean by 6.8% in the second quarter. NumerixS Investment Technologies Inc now owns 75,948 shares of the offshore drilling services provider’s stock valued at $1,018,000 after acquiring an additional 4,848 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Transocean by 5.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 93,379 shares of the offshore drilling services provider’s stock valued at $1,255,000 after acquiring an additional 5,201 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of Transocean by 6.9% in the first quarter. State of Wisconsin Investment Board now owns 86,068 shares of the offshore drilling services provider’s stock valued at $852,000 after acquiring an additional 5,533 shares in the last quarter. Institutional investors and hedge funds own 70.75% of the company’s stock.

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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Earnings History and Estimates for Transocean (NYSE:RIG)

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