Transocean LTD (RIG) Expected to Post Quarterly Sales of $677.30 Million

Brokerages expect Transocean LTD (NYSE:RIG) to post sales of $677.30 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Transocean’s earnings. The lowest sales estimate is $601.30 million and the highest is $725.00 million. Transocean posted sales of $785.00 million in the same quarter last year, which suggests a negative year over year growth rate of 13.7%. The firm is expected to issue its next quarterly earnings results on Wednesday, May 2nd.

On average, analysts expect that Transocean will report full year sales of $677.30 million for the current fiscal year, with estimates ranging from $2.79 billion to $3.06 billion. For the next year, analysts anticipate that the company will report sales of $2.85 billion per share, with estimates ranging from $2.72 billion to $3.11 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Transocean.

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Transocean (NYSE:RIG) last released its earnings results on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Transocean had a negative return on equity of 0.17% and a negative net margin of 105.18%. The company had revenue of $629.00 million for the quarter, compared to the consensus estimate of $619.66 million. During the same quarter in the previous year, the company posted $0.69 EPS. The business’s revenue was down 35.4% on a year-over-year basis.

Several analysts recently issued reports on the company. Cowen set a $10.00 target price on Transocean and gave the stock a “hold” rating in a report on Thursday, March 15th. ValuEngine lowered Transocean from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 7th. Piper Jaffray Companies set a $11.00 target price on Transocean and gave the stock a “hold” rating in a report on Wednesday, January 10th. Susquehanna Bancshares set a $10.00 target price on Transocean and gave the stock a “hold” rating in a report on Friday, February 16th. Finally, Royal Bank of Canada set a $11.00 target price on Transocean and gave the stock a “hold” rating in a report on Thursday, December 21st. Nine equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.99.

In other news, Director Frederik Wilhelm Mohn bought 2,000,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were bought at an average price of $9.29 per share, with a total value of $18,580,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David A. Tonnel sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total value of $84,510.00. Following the completion of the transaction, the senior vice president now directly owns 75,349 shares in the company, valued at approximately $707,527.11. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Transocean by 1.3% in the fourth quarter. BlackRock Inc. now owns 35,420,454 shares of the offshore drilling services provider’s stock valued at $378,292,000 after purchasing an additional 467,613 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Transocean by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 12,729,364 shares of the offshore drilling services provider’s stock valued at $136,965,000 after purchasing an additional 135,470 shares during the last quarter. Contrarius Investment Management Ltd grew its position in shares of Transocean by 10.3% in the third quarter. Contrarius Investment Management Ltd now owns 10,742,267 shares of the offshore drilling services provider’s stock valued at $115,587,000 after purchasing an additional 1,002,237 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Transocean by 8.8% in the fourth quarter. Two Sigma Advisers LP now owns 6,269,203 shares of the offshore drilling services provider’s stock valued at $66,955,000 after purchasing an additional 505,350 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Transocean by 6.4% in the third quarter. Van ECK Associates Corp now owns 5,953,402 shares of the offshore drilling services provider’s stock valued at $64,059,000 after purchasing an additional 356,048 shares during the last quarter. 63.85% of the stock is currently owned by institutional investors.

Transocean (RIG) traded down $0.38 on Friday, reaching $10.03. The company had a trading volume of 13,858,403 shares, compared to its average volume of 14,571,414. Transocean has a fifty-two week low of $7.20 and a fifty-two week high of $13.04. The company has a market capitalization of $4,446.88, a price-to-earnings ratio of -1.26 and a beta of 1.62. The company has a quick ratio of 3.06, a current ratio of 3.36 and a debt-to-equity ratio of 0.56.

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Transocean Company Profile

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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