Wall Street analysts expect Transocean Ltd. (NYSE:RIG) to announce earnings per share (EPS) of ($0.06) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Transocean’s earnings. The highest EPS estimate is $0.03 and the lowest is ($0.14). Transocean reported earnings per share of $0.25 during the same quarter last year, which indicates a negative year-over-year growth rate of 124%. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Transocean will report full-year earnings of ($0.32) per share for the current fiscal year, with EPS estimates ranging from ($0.50) to ($0.16). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.82) per share, with EPS estimates ranging from ($1.14) to ($0.26). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Transocean.
Several equities research analysts have recently weighed in on RIG shares. Jefferies Group LLC set a $12.00 target price on shares of Transocean and gave the stock a “hold” rating in a research report on Wednesday, May 24th. BidaskClub raised shares of Transocean from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Morgan Stanley dropped their target price on shares of Transocean from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, June 16th. Sanford C. Bernstein downgraded shares of Transocean from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $16.50 to $9.00 in a research report on Thursday, July 6th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Transocean in a research report on Wednesday, July 19th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.21.
In other Transocean news, CAO Howard E. Davis bought 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the acquisition, the chief accounting officer now directly owns 21,793 shares of the company’s stock, valued at $159,524.76. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Transocean by 0.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,052 shares of the offshore drilling services provider’s stock worth $239,000 after purchasing an additional 175 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Transocean by 0.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 49,298 shares of the offshore drilling services provider’s stock worth $406,000 after purchasing an additional 226 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in shares of Transocean by 2.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 14,840 shares of the offshore drilling services provider’s stock worth $122,000 after purchasing an additional 350 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Transocean by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock worth $200,000 after purchasing an additional 400 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Transocean by 0.5% in the 2nd quarter. Stifel Financial Corp now owns 81,518 shares of the offshore drilling services provider’s stock worth $664,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 67.81% of the company’s stock.
Transocean (NYSE RIG) traded up 4.49% during trading on Friday, reaching $9.77. 24,756,207 shares of the company’s stock traded hands. The stock’s market capitalization is $3.82 billion. Transocean has a 1-year low of $7.20 and a 1-year high of $16.66. The stock has a 50-day moving average price of $8.40 and a 200 day moving average price of $9.81.
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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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