Transocean Rating Lowered to Underperform at BMO Capital Markets (RIG)
Transocean (NYSE:RIG) was downgraded by equities researchers at BMO Capital Markets to an “underperform” rating in a research report issued on Wednesday, Analyst RN reports.
Shares of Transocean (NYSE:RIG) opened at 45.01 on Wednesday. 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 $45.6 and its 200-day moving average is $48.80. The company has a market cap of $16.222 billion and a P/E ratio of 23.25.
Transocean (NYSE:RIG) last announced its earnings results on Wednesday, August 7th. The company reported $1.08 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that Transocean will post $4.01 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Argus downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $500,000.00 price target on the stock, up previously from $3.90. Separately, analysts at Barclays cut their price target on shares of Transocean from $74.00 to $70.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of Transocean from $52.00 to $50.00 in a research note to investors on Wednesday, October 2nd. They now have a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25,052.20.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.
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