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Transocean (NYSE:RIG) was downgraded by stock analysts at DNB Markets from a “hold” rating to a “sell” rating in a report issued on Wednesday, Analyst RN reports. They currently have a $45.00 price objective on the stock, down from their previous price objective of $50.00. DNB Markets’ target price points to a potential downside of 8.35% from the company’s current price.

RIG has been the subject of a number of other recent research reports. Analysts at RBC Capital downgraded shares of Transocean from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday. They now have a $54.00 price target on the stock, down previously from $56.00. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Transocean from $60.00 to $54.00 in a research note to investors on Tuesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Transocean in a research note to investors on Tuesday, December 31st. They now have a $51.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. Transocean currently has a consensus rating of “Hold” and an average price target of $22,781.35.

Transocean (NYSE:RIG) traded down 1.81% on Wednesday, hitting $48.21. The stock had a trading volume of 1,345,896 shares. Transocean has a 1-year low of $44.19 and a 1-year high of $59.50. The stock’s 50-day moving average is $49.50 and its 200-day moving average is $48.12. The company has a market cap of $17.384 billion and a P/E ratio of 10.93.

Transocean (NYSE:RIG) last released its earnings data on Thursday, November 7th. The company reported $1.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.19. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company posted $1.37 earnings per share. Transocean’s revenue was up 5.2% compared to the same quarter last year. Analysts expect that Transocean will post $4.19 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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