Equities analysts predict that Transocean LTD (NYSE:RIG) will post $775.50 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Transocean’s earnings, with estimates ranging from $734.00 million to $799.00 million. Transocean posted sales of $790.00 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.8%. The firm is scheduled to announce its next earnings results on Monday, July 29th.

On average, analysts expect that Transocean will report full-year sales of $3.20 billion for the current year, with estimates ranging from $3.06 billion to $3.28 billion. For the next year, analysts forecast that the firm will report sales of $3.47 billion, with estimates ranging from $3.32 billion to $3.85 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Transocean.

Transocean (NYSE:RIG) last released its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.01). Transocean had a negative net margin of 62.97% and a negative return on equity of 2.70%. The company had revenue of $754.00 million during the quarter, compared to analysts’ expectations of $745.43 million. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. Transocean’s revenue for the quarter was up 13.6% compared to the same quarter last year.

RIG has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Transocean from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th. Goldman Sachs Group initiated coverage on shares of Transocean in a report on Sunday, March 10th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Barclays upgraded shares of Transocean from an “underweight” rating to an “overweight” rating and set a $10.00 target price for the company in a report on Wednesday, February 20th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.69.

Transocean stock traded down $0.43 during trading on Tuesday, reaching $6.20. The company had a trading volume of 27,772,442 shares, compared to its average volume of 12,683,128. Transocean has a 12-month low of $6.13 and a 12-month high of $14.47. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -7.85 and a beta of 1.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.37 and a current ratio of 2.72.

In other Transocean news, Director Vincent J. Intrieri purchased 10,000 shares of Transocean stock in a transaction on Tuesday, May 7th. The shares were purchased at an average cost of $7.35 per share, with a total value of $73,500.00. Following the completion of the transaction, the director now directly owns 19,900 shares in the company, valued at approximately $146,265. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David A. Tonnel sold 16,561 shares of Transocean stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $9.25, for a total transaction of $153,189.25. Following the transaction, the senior vice president now directly owns 111,936 shares in the company, valued at $1,035,408. The disclosure for this sale can be found here. Insiders own 11.05% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RIG. We Are One Seven LLC acquired a new position in Transocean during the fourth quarter valued at approximately $31,000. Icon Wealth Partners LLC acquired a new position in Transocean during the first quarter valued at approximately $38,000. Nisa Investment Advisors LLC acquired a new position in Transocean during the first quarter valued at approximately $44,000. Mercer Global Advisors Inc. ADV acquired a new position in Transocean during the first quarter valued at approximately $70,000. Finally, National Asset Management Inc. acquired a new position in Transocean during the fourth quarter valued at approximately $71,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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