Analysts Anticipate Transocean Ltd. (RIG) Will Post Earnings of -$0.22 Per Share

Brokerages forecast that Transocean Ltd. (NYSE:RIG) will post earnings per share of ($0.22) for the current quarter, according to Zacks. Seven analysts have issued estimates for Transocean’s earnings, with estimates ranging from ($0.47) to ($0.04). Transocean reported earnings per share of $0.63 during the same quarter last year, which suggests a negative year-over-year growth rate of 134.9%. The company is scheduled to issue its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Transocean will report full-year earnings of ($0.34) per share for the current financial year, with EPS estimates ranging from ($0.63) to $0.14. For the next year, analysts expect that the business will report earnings of ($0.78) per share, with EPS estimates ranging from ($1.35) to ($0.17). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Transocean.

Transocean (NYSE:RIG) last issued 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 positive return on equity of 2.10% and a negative net margin of 84.09%. The business had revenue of $808.00 million during the quarter, compared to analyst estimates of $703.13 million. During the same period in the previous year, the firm earned $0.25 EPS. Transocean’s quarterly revenue was down 10.8% compared to the same quarter last year.

A number of equities research analysts recently weighed in on RIG shares. Jefferies Group set a $9.00 price target on Transocean and gave the company a “hold” rating in a research note on Wednesday, August 16th. Nomura lowered their price objective on Transocean from $8.00 to $7.00 and set a “reduce” rating for the company in a research report on Thursday, August 17th. ValuEngine upgraded Transocean from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Pareto Securities raised Transocean from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $11.00 target price on shares of Transocean in a research report on Friday, September 1st. Eleven analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company. Transocean presently has a consensus rating of “Hold” and a consensus target price of $12.31.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado increased its stake in Transocean by 12.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after acquiring an additional 1,394 shares during the last quarter. Dumont & Blake Investment Advisors LLC bought a new stake in Transocean during the third quarter worth approximately $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Transocean during the second quarter valued at approximately $111,000. Advisor Partners LLC purchased a new position in shares of Transocean during the second quarter valued at approximately $112,000. Finally, Dupont Capital Management Corp purchased a new position in shares of Transocean during the second quarter valued at approximately $113,000. Institutional investors own 73.09% of the company’s stock.

Shares of Transocean (NYSE RIG) traded down $0.55 on Friday, hitting $10.11. The company had a trading volume of 12,784,941 shares, compared to its average volume of 13,829,955. Transocean has a 1-year low of $7.20 and a 1-year high of $16.66. 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 $4,142.95, a price-to-earnings ratio of 13.24 and a beta of 1.80.

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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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