Transocean Price Target Lowered to $51.00 at Jefferies Group (RIG)
Investment analysts at Jefferies Group cut their target price on shares of Transocean (NYSE:RIG) from $55.00 to $51.00 in a note issued to investors on Tuesday, AR Network reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 13.38% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Guggenheim cut their price target on shares of Transocean (NYSE:RIG) from $63.00 to $58.00 in a research note to investors on Wednesday, September 25th. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna cut their price target on shares of Transocean (NYSE:RIG) from $53.00 to $52.00 in a research note to investors on Thursday, September 19th. They now have a “neutral” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of Transocean (NYSE:RIG) from $60.00 to $57.00 in a research note to investors on Thursday, September 19th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $52.80.
Shares of Transocean (NYSE:RIG) traded up 1.08% during mid-day trading on Tuesday, hitting $44.98. 1,924,634 shares of the company’s stock traded hands. Transocean has a 52 week low of $43.65 and a 52 week high of $59.50. The stock’s 50-day moving average is $46.23 and its 200-day moving average is $49.34. The company has a market cap of $16.211 billion and a P/E ratio of 22.99.
Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.08 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.08. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company posted $0.72 earnings per share. Transocean’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that Transocean will post $4.04 EPS for the current fiscal year.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.
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