Transocean Ltd. (NYSE:RIG) Expected to Post Earnings of -$0.13 Per Share

Brokerages predict that Transocean Ltd. (NYSE:RIGGet Rating) will announce earnings per share (EPS) of ($0.13) for the current quarter, Zacks reports. Three analysts have made estimates for Transocean’s earnings, with estimates ranging from ($0.18) to ($0.09). Transocean reported earnings per share of ($0.18) in the same quarter last year, which suggests a positive year-over-year growth rate of 27.8%. The firm is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Transocean will report full year earnings of ($0.60) per share for the current fiscal year, with EPS estimates ranging from ($0.76) to ($0.38). For the next year, analysts anticipate that the business will post earnings of ($0.39) per share, with EPS estimates ranging from ($0.51) to ($0.25). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Transocean.

Transocean (NYSE:RIGGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The offshore drilling services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Transocean had a negative return on equity of 4.81% and a negative net margin of 26.84%. The firm had revenue of $615.00 million for the quarter, compared to analyst estimates of $605.13 million. During the same quarter in the previous year, the company earned ($0.19) earnings per share.

Several research analysts have issued reports on RIG shares. Pareto Securities upgraded shares of Transocean from a “sell” rating to a “hold” rating and set a $5.00 price target for the company in a report on Thursday, March 24th. StockNews.com lowered shares of Transocean from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. Piper Sandler raised their price target on shares of Transocean from $3.00 to $3.85 and gave the stock a “neutral” rating in a report on Monday, April 18th. Finally, Capital One Financial reiterated an “equal weight” rating on shares of Transocean in a research note on Wednesday, February 23rd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.21.

In other Transocean news, COO Keelan Adamson sold 349,418 shares of Transocean stock in a transaction on Monday, March 7th. The shares were sold at an average price of $5.00, for a total transaction of $1,747,090.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 13.26% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIG. Cetera Investment Advisers increased its position in shares of Transocean by 11.0% during the fourth quarter. Cetera Investment Advisers now owns 29,128 shares of the offshore drilling services provider’s stock valued at $80,000 after buying an additional 2,887 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Transocean by 11.7% during the fourth quarter. Rafferty Asset Management LLC now owns 28,024 shares of the offshore drilling services provider’s stock worth $77,000 after purchasing an additional 2,940 shares in the last quarter. Nwam LLC boosted its stake in Transocean by 14.9% in the fourth quarter. Nwam LLC now owns 23,047 shares of the offshore drilling services provider’s stock worth $64,000 after buying an additional 2,983 shares in the last quarter. FinTrust Capital Advisors LLC boosted its stake in Transocean by 50.0% in the third quarter. FinTrust Capital Advisors LLC now owns 9,000 shares of the offshore drilling services provider’s stock worth $34,000 after buying an additional 3,000 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in shares of Transocean by 25.2% in the fourth quarter. Tradewinds Capital Management LLC now owns 14,905 shares of the offshore drilling services provider’s stock worth $41,000 after buying an additional 3,000 shares during the period. Institutional investors own 47.88% of the company’s stock.

NYSE RIG traded up $0.08 during trading hours on Thursday, reaching $4.10. The company’s stock had a trading volume of 846,616 shares, compared to its average volume of 17,717,860. The firm has a fifty day simple moving average of $4.27 and a 200-day simple moving average of $3.67. The stock has a market cap of $2.79 billion, a P/E ratio of -4.04 and a beta of 2.99. Transocean has a 52 week low of $2.63 and a 52 week high of $5.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.40.

About Transocean (Get Rating)

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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