Q3 Earnings Estimate for Transocean Issued By Zacks Research

Transocean Ltd. (NYSE:RIG) – Zacks Research raised their Q3 2027 earnings per share estimates for Transocean in a report released on Thursday, December 11th. Zacks Research analyst Team now expects that the offshore drilling services provider will post earnings of $0.03 per share for the quarter, up from their prior estimate of $0.02. The consensus estimate for Transocean’s current full-year earnings is $0.14 per share. Zacks Research also issued estimates for Transocean’s FY2027 earnings at $0.09 EPS.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of ($1,894.00) million during the quarter, compared to the consensus estimate of $1.01 billion. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.Transocean’s revenue was up 8.4% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Wednesday, October 8th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Morgan Stanley set a $4.50 price target on Transocean in a report on Monday. Barclays increased their price objective on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Citigroup boosted their target price on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.48.

Transocean Stock Down 5.8%

NYSE:RIG opened at $3.85 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08. The firm has a market cap of $4.24 billion, a P/E ratio of -1.17 and a beta of 1.39. Transocean has a fifty-two week low of $1.97 and a fifty-two week high of $4.56. The firm has a 50-day simple moving average of $3.91 and a two-hundred day simple moving average of $3.32.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Transocean by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock worth $294,900,000 after buying an additional 15,315,289 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Transocean by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 40,660,439 shares of the offshore drilling services provider’s stock worth $128,894,000 after purchasing an additional 651,843 shares in the last quarter. American Century Companies Inc. lifted its stake in Transocean by 12.8% in the 3rd quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock worth $82,544,000 after purchasing an additional 3,006,786 shares in the last quarter. Dalal Street LLC bought a new position in shares of Transocean during the 3rd quarter valued at about $76,260,000. Finally, Two Sigma Investments LP grew its position in shares of Transocean by 0.3% during the third quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock valued at $58,145,000 after purchasing an additional 64,305 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at Transocean

In other Transocean news, Director Frederik Wilhelm Mohn purchased 4,000,000 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were acquired at an average price of $3.05 per share, for a total transaction of $12,200,000.00. Following the purchase, the director directly owned 95,074,894 shares of the company’s stock, valued at $289,978,426.70. The trade was a 4.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction dated Monday, November 24th. The stock was bought at an average price of $4.02 per share, with a total value of $6,030,000.00. Following the completion of the purchase, the director directly owned 96,574,894 shares in the company, valued at $388,231,073.88. This represents a 1.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 11,000,000 shares of company stock worth $36,460,000 and have sold 726,148 shares worth $3,115,783. Company insiders own 12.54% of the company’s stock.

About Transocean

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.