-$0.22 Earnings Per Share Expected for Transocean LTD (RIG) This Quarter

Equities analysts predict that Transocean LTD (NYSE:RIG) will report ($0.22) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Transocean’s earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.29). Transocean posted earnings of ($0.24) per share during the same quarter last year, which would indicate a positive year over year growth rate of 8.3%. The business is scheduled to announce its next earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that Transocean will report full-year earnings of ($0.73) per share for the current financial year, with EPS estimates ranging from ($0.85) to ($0.63). For the next year, analysts expect that the firm will report earnings of ($0.64) per share, with EPS estimates ranging from ($1.03) to ($0.24). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Transocean.

Transocean (NYSE:RIG) last issued its earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.16. The business had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $779.19 million. Transocean had a negative return on equity of 2.31% and a negative net margin of 64.33%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS.

RIG has been the topic of a number of recent analyst reports. ValuEngine upgraded Transocean from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Susquehanna Bancshares set a $17.00 target price on Transocean and gave the company a “buy” rating in a research report on Wednesday, October 10th. UBS Group raised Transocean from an “accumulate” rating to a “buy” rating in a research report on Thursday, October 18th. BTIG Research initiated coverage on Transocean in a research report on Monday, September 17th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Three analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $13.70.

In other news, CAO Howard E. Davis sold 55,212 shares of the company’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $7.10, for a total transaction of $392,005.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Howard E. Davis sold 10,298 shares of the company’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $7.28, for a total value of $74,969.44. Following the sale, the chief accounting officer now directly owns 55,212 shares in the company, valued at approximately $401,943.36. The disclosure for this sale can be found here. Insiders have sold 120,722 shares of company stock worth $858,980 in the last ninety days. Corporate insiders own 14.09% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Transocean by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 38,625,518 shares of the offshore drilling services provider’s stock valued at $538,826,000 after purchasing an additional 118,330 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Transocean by 0.3% during the third quarter. Vanguard Group Inc now owns 38,625,518 shares of the offshore drilling services provider’s stock valued at $538,826,000 after buying an additional 118,330 shares during the period. Primecap Management Co. CA increased its stake in shares of Transocean by 129.0% during the third quarter. Primecap Management Co. CA now owns 32,168,839 shares of the offshore drilling services provider’s stock valued at $448,755,000 after buying an additional 18,121,494 shares during the period. Platinum Investment Management Ltd. increased its stake in shares of Transocean by 66.3% during the third quarter. Platinum Investment Management Ltd. now owns 14,492,927 shares of the offshore drilling services provider’s stock valued at $202,176,000 after buying an additional 5,778,427 shares during the period. Finally, FMR LLC increased its stake in shares of Transocean by 53.3% during the third quarter. FMR LLC now owns 7,824,982 shares of the offshore drilling services provider’s stock valued at $109,158,000 after buying an additional 2,721,171 shares during the period. 81.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of Transocean stock traded up $0.22 on Wednesday, hitting $8.47. 426,406 shares of the company were exchanged, compared to its average volume of 19,129,311. The stock has a market cap of $3.94 billion, a P/E ratio of -141.58 and a beta of 1.68. Transocean has a 1-year low of $6.19 and a 1-year high of $14.47. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.07 and a quick ratio of 2.77.

About Transocean

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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