-$0.21 Earnings Per Share Expected for Transocean LTD (RIG) This Quarter

Analysts expect Transocean LTD (NYSE:RIG) to post earnings of ($0.21) per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Transocean’s earnings. The lowest EPS estimate is ($0.31) and the highest is ($0.11). Transocean reported earnings of ($0.24) per share during the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The business is scheduled to announce its next quarterly earnings report on Tuesday, February 19th.

According to Zacks, analysts expect that Transocean will report full year earnings of ($0.85) per share for the current year, with EPS estimates ranging from ($1.14) to ($0.61). For the next financial year, analysts forecast that the firm will report earnings of ($0.67) per share, with EPS estimates ranging from ($2.00) to $0.10. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Transocean.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $816.00 million during the quarter, compared to the consensus estimate of $779.19 million. Transocean had a negative net margin of 64.33% and a negative return on equity of 2.27%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 EPS.

A number of research analysts have issued reports on the stock. BMO Capital Markets reissued a “sell” rating and set a $8.00 target price on shares of Transocean in a research note on Friday, August 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $13.20 price target on shares of Transocean in a research note on Wednesday, August 1st. ValuEngine lowered shares of Transocean from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Tudor Pickering raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Finally, Barclays upped their price target on shares of Transocean from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $13.79.

In related news, Director Vincent J. Intrieri acquired 10,000 shares of the company’s stock in a transaction on Thursday, August 16th. The shares were purchased at an average price of $10.62 per share, for a total transaction of $106,200.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $106,200. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.09% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC acquired a new position in Transocean in the 2nd quarter valued at approximately $101,000. Mobius Capital Management LLC acquired a new position in Transocean in the 3rd quarter valued at approximately $112,000. MinichMacGregor Wealth Management LLC increased its stake in Transocean by 100.0% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock valued at $141,000 after buying an additional 5,000 shares during the period. Verition Fund Management LLC acquired a new position in Transocean in the 2nd quarter valued at approximately $167,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Transocean during the 2nd quarter worth $178,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.

Transocean stock traded up $0.30 during midday trading on Wednesday, reaching $11.12. 1,213,186 shares of the stock traded hands, compared to its average volume of 13,807,182. The company has a quick ratio of 1.35, a current ratio of 1.49 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of -186.17 and a beta of 1.48. Transocean has a fifty-two week low of $8.70 and a fifty-two week high of $14.47.

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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