Transocean (RIG) Scheduled to Post Quarterly Earnings on Monday

Transocean (NYSE:RIG) will announce its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of ($0.10) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Transocean (NYSE:RIG) last posted its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. The company had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $779.17 million. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. During the same quarter last year, the company posted ($0.49) EPS. On average, analysts expect Transocean to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Transocean Stock Performance

NYSE RIG opened at $5.87 on Friday. The firm has a 50-day moving average of $5.71 and a 200-day moving average of $6.01. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.52. The stock has a market cap of $4.81 billion, a PE ratio of -4.62 and a beta of 2.78. Transocean has a 52-week low of $4.45 and a 52-week high of $8.88.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Transocean to a “sell” rating in a research note on Tuesday, February 20th. Citigroup cut their target price on shares of Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Morgan Stanley dropped their price objective on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Bank of America lifted their price objective on shares of Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Finally, Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Transocean currently has an average rating of “Hold” and a consensus target price of $8.22.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.