-$0.29 Earnings Per Share Expected for Transocean LTD (NYSE:RIG) This Quarter

Equities research analysts expect that Transocean LTD (NYSE:RIG) will report earnings per share of ($0.29) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Transocean’s earnings, with estimates ranging from ($0.43) to $0.10. Transocean posted earnings per share of $0.06 during the same quarter last year, which indicates a negative year-over-year growth rate of 583.3%. The business is scheduled to issue its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Transocean will report full-year earnings of ($1.02) per share for the current fiscal year, with EPS estimates ranging from ($1.36) to ($0.10). For the next financial year, analysts anticipate that the firm will post earnings of ($0.52) per share, with EPS estimates ranging from ($1.15) to $0.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Transocean.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, July 29th. The offshore drilling services provider reported ($0.34) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.34). Transocean had a negative net margin of 33.49% and a negative return on equity of 4.18%. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $765.81 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year.



RIG has been the topic of several research reports. Royal Bank of Canada set a $17.00 price target on shares of Transocean and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America initiated coverage on shares of Transocean in a report on Monday, June 10th. They issued a “neutral” rating and a $6.50 price target on the stock. ValuEngine upgraded shares of Transocean from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. HSBC set a $12.00 price target on shares of Transocean and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Citigroup cut their price target on shares of Transocean from $6.70 to $4.90 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Transocean has a consensus rating of “Hold” and an average target price of $12.29.

In related news, Director Chad C. Deaton bought 25,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $5.29 per share, with a total value of $132,250.00. Following the completion of the acquisition, the director now owns 24,800 shares in the company, valued at approximately $131,192. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Vanessa C. L. Chang bought 4,300 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was bought at an average cost of $5.92 per share, for a total transaction of $25,456.00. Following the acquisition, the director now owns 14,000 shares of the company’s stock, valued at approximately $82,880. The disclosure for this purchase can be found here. Insiders have bought a total of 134,849 shares of company stock worth $810,982 in the last ninety days. Corporate insiders own 11.05% of the company’s stock.

Several large investors have recently added to or reduced their stakes in RIG. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Transocean by 4.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,155 shares of the offshore drilling services provider’s stock worth $533,000 after acquiring an additional 2,653 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in shares of Transocean during the 1st quarter worth about $96,000. Tech Square Trading LP acquired a new position in shares of Transocean during the 1st quarter worth about $126,000. SG Americas Securities LLC boosted its stake in shares of Transocean by 102.5% during the 1st quarter. SG Americas Securities LLC now owns 197,344 shares of the offshore drilling services provider’s stock worth $1,719,000 after buying an additional 99,868 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Transocean by 1.7% during the 1st quarter. BlackRock Inc. now owns 47,148,891 shares of the offshore drilling services provider’s stock worth $410,666,000 after buying an additional 785,189 shares during the last quarter. 69.47% of the stock is currently owned by institutional investors and hedge funds.

NYSE:RIG traded down $0.29 during midday trading on Friday, hitting $4.25. The company’s stock had a trading volume of 21,303,697 shares, compared to its average volume of 25,481,730. Transocean has a fifty-two week low of $3.76 and a fifty-two week high of $14.47. The firm’s 50 day moving average is $5.33 and its 200-day moving average is $7.22. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.88 and a quick ratio of 2.55. The firm has a market cap of $2.78 billion, a P/E ratio of -5.38 and a beta of 1.75.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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