Transocean Upgraded by Jefferson Research to Buy (RIG)
Transocean (NYSE:RIG) was upgraded by analysts at Jefferson Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Analyst Ratings Net reports.
Shares of Transocean (NYSE:RIG) traded down 0.60% during mid-day trading on Tuesday, hitting $48.31. 3,178,408 shares of the company’s stock traded hands. Transocean has a 1-year low of $43.65 and a 1-year high of $59.50. The stock has a 50-day moving average of $46.9 and a 200-day moving average of $49.96. The company has a market cap of $17.411 billion and a price-to-earnings ratio of 25.10.
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 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 $3.97 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on RIG. Analysts at Goldman Sachs Group Inc. downgraded shares of Transocean from a “neutral” rating to a “sell” rating in a research note to investors on Monday. They now have a $50.00 price target on the stock, up previously from $49.50. They noted that the move was a valuation call. Separately, analysts at Guggenheim downgraded shares of Transocean from a “buy” rating to a “neutral” rating in a research note to investors on Friday. They now have a $53.00 price target on the stock, down previously from $58.00. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Transocean from $50.00 to $52.00 in a research note to investors on Monday, October 21st. They now have a “neutral” rating on the stock. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company. Transocean presently has a consensus rating of “Hold” and a consensus price target of $23,861.24.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.
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