Transocean PT Raised to $52.00 at JPMorgan Chase & Co. (RIG)
Equities research analysts at JPMorgan Chase & Co. hoisted their price objective on shares of Transocean (NYSE:RIG) from $50.00 to $52.00 in a research note issued to investors on Monday, American Banking News.com reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 11.66% from the stock’s previous close.
Shares of Transocean (NYSE:RIG) traded up 1.48% on Monday, hitting $46.57. The stock had a trading volume of 3,666,809 shares. Transocean has a one year low of $43.65 and a one year high of $59.50. The stock has a 50-day moving average of $45.63 and a 200-day moving average of $48.71. The company has a market cap of $16.784 billion and a P/E ratio of 23.70.
Transocean (NYSE:RIG) last released its earnings data 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Transocean in a research note to investors on Thursday. They now have a $47.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Transocean from $57.00 to $55.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Transocean from a “market perform” rating to an “underperform” rating in a research note to investors on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $25,052.05.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.
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