Q4 Earnings Forecast for Transocean Issued By Zacks Research

Transocean Ltd. (NYSE:RIG) – Research analysts at Zacks Research cut their Q4 2024 earnings per share (EPS) estimates for shares of Transocean in a research report issued on Wednesday, November 20th. Zacks Research analyst N. Choudhury now forecasts that the offshore drilling services provider will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.02. The consensus estimate for Transocean’s current full-year earnings is ($0.16) per share. Zacks Research also issued estimates for Transocean’s Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.06 EPS, Q4 2025 earnings at $0.04 EPS, FY2025 earnings at $0.16 EPS, Q1 2026 earnings at $0.07 EPS, Q2 2026 earnings at $0.03 EPS and Q3 2026 earnings at $0.06 EPS.

A number of other equities analysts have also commented on the stock. Susquehanna lowered their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Morgan Stanley increased their price target on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Finally, DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.63.

Transocean Stock Performance

Shares of RIG stock opened at $4.35 on Friday. The firm has a market cap of $3.81 billion, a PE ratio of -5.80 and a beta of 2.78. The company’s fifty day simple moving average is $4.33 and its 200-day simple moving average is $4.96. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean has a 12 month low of $3.85 and a 12 month high of $6.88.

Insider Buying and Selling

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the completion of the transaction, the executive vice president now directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. This represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Perestroika purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the acquisition, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This represents a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.16% of the stock is currently owned by company insiders.

Institutional Trading of Transocean

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Transocean by 0.6% in the first quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock worth $433,208,000 after buying an additional 429,950 shares during the period. Primecap Management Co. CA increased its holdings in shares of Transocean by 0.4% in the third quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock valued at $239,454,000 after buying an additional 222,680 shares in the last quarter. Capital World Investors boosted its holdings in shares of Transocean by 18.8% in the first quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock worth $290,984,000 after buying an additional 7,320,672 shares during the period. Dimensional Fund Advisors LP grew its position in Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after purchasing an additional 5,856,414 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Transocean by 11.0% in the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after purchasing an additional 1,944,723 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.