Transocean Stock Rating Lowered by Clarkson Capital (RIG)
Transocean (NYSE:RIG) was downgraded by equities research analysts at Clarkson Capital to a “market perform” rating in a research note issued to investors on Thursday, Analyst Ratings Network reports.
Shares of Transocean (NYSE:RIG) opened at 46.83 on Thursday. 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 $48.32 and its 200-day moving average is $48.11. The company has a market cap of $16.886 billion and a P/E ratio of 10.43.
Transocean (NYSE:RIG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.37 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that Transocean will post $4.17 EPS for the current fiscal year.
A number of other firms have also recently commented on RIG. Analysts at Nordea Equity Research downgraded shares of Transocean from a “hold” rating to a “sell” rating in a research note to investors on Thursday. Separately, analysts at ISI Group downgraded shares of Transocean to a “neutral” rating in a research note to investors on Monday, January 13th. Finally, analysts at UBS AG initiated coverage on shares of Transocean in a research note to investors on Wednesday, January 8th. They set a “neutral” rating and a $54.00 price target on the stock. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22,781.08.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.
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