-$0.38 Earnings Per Share Expected for Transocean LTD (NYSE:RIG) This Quarter

Analysts expect Transocean LTD (NYSE:RIG) to post ($0.38) earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Transocean’s earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.43). Transocean posted earnings per share of $0.06 during the same quarter last year, which would indicate a negative year-over-year growth rate of 733.3%. The company is scheduled to announce its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Transocean will report full-year earnings of ($1.22) per share for the current fiscal year, with EPS estimates ranging from ($1.38) to ($0.94). For the next financial year, analysts forecast that the firm will report earnings of ($0.78) per share, with EPS estimates ranging from ($1.18) to ($0.33). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Transocean.

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

A number of research analysts have recently commented on the company. Royal Bank of Canada set a $17.00 target price on Transocean and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley set a $10.00 target price on Transocean and gave the company a “buy” rating in a research note on Monday, July 15th. Scotiabank set a $7.00 target price on Transocean and gave the company a “hold” rating in a research note on Monday, August 26th. HSBC set a $12.00 target price on Transocean and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Bank of America assumed coverage on Transocean in a research note on Monday, June 10th. They issued a “neutral” rating and a $6.50 target price for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.10.

Shares of RIG traded down $0.03 on Tuesday, reaching $5.82. The stock had a trading volume of 29,773,679 shares, compared to its average volume of 20,814,096. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -7.37 and a beta of 1.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.55 and a current ratio of 2.88. The company has a 50-day simple moving average of $4.84 and a 200-day simple moving average of $6.76. Transocean has a 12-month low of $3.76 and a 12-month high of $14.47.

In related news, Director Chad C. Deaton acquired 25,000 shares of Transocean stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $5.29 per share, with a total value of $132,250.00. Following the transaction, the director now directly owns 24,800 shares in the company, valued at $131,192. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Howard E. Davis acquired 98,049 shares of Transocean stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $6.35 per share, with a total value of $622,611.15. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 130,549 shares of company stock valued at $785,526. 11.05% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. Moors & Cabot Inc. increased its holdings in shares of Transocean by 16.7% in the 1st quarter. Moors & Cabot Inc. now owns 12,550 shares of the offshore drilling services provider’s stock worth $109,000 after purchasing an additional 1,800 shares in the last quarter. World Asset Management Inc increased its holdings in shares of Transocean by 4.0% in the 2nd quarter. World Asset Management Inc now owns 48,529 shares of the offshore drilling services provider’s stock worth $311,000 after purchasing an additional 1,880 shares in the last quarter. Quantitative Systematic Strategies LLC increased its holdings in shares of Transocean by 17.7% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 12,851 shares of the offshore drilling services provider’s stock worth $82,000 after purchasing an additional 1,930 shares in the last quarter. Nwam LLC increased its holdings in shares of Transocean by 8.3% in the 2nd quarter. Nwam LLC now owns 34,579 shares of the offshore drilling services provider’s stock worth $222,000 after purchasing an additional 2,636 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Transocean by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 205,516 shares of the offshore drilling services provider’s stock worth $1,317,000 after purchasing an additional 2,899 shares in the last quarter. 70.65% of the stock is 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. 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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