Transocean LTD (RIG) Plans Dividend of $0.75
Transocean LTD (NYSE:RIG) declared a dividend on Tuesday, August 12th, American Banking News.com reports. Shareholders of record on Friday, August 22nd will be given a dividend of 0.75 per share on Wednesday, September 17th. The ex-dividend date of this dividend is Wednesday, August 20th.
RIG has been the subject of a number of recent research reports. Analysts at RBC Capital cut their price target on shares of Transocean LTD from $45.00 to $42.00 in a research note on Friday, August 8th. On a related note, analysts at Jefferies Group cut their price target on shares of Transocean LTD from $41.00 to $40.00 in a research note on Friday, August 8th. Finally, analysts at Deutsche Bank downgraded shares of Transocean LTD from a “hold” rating to a “sell” rating in a research note on Monday, August 4th. They now have a $27.00 price target on the stock, down previously from $45.00. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $43.99.
Shares of Transocean LTD (NYSE:RIG) opened at 38.59 on Thursday. Transocean LTD has a 52-week low of $38.01 and a 52-week high of $55.74. The stock has a 50-day moving average of $42.19 and a 200-day moving average of $42.22. The company has a market cap of $13.977 billion and a P/E ratio of 7.82. Transocean LTD also saw a large increase in short interest in July. As of July 31st, there was short interest totalling 62,157,922 shares, an increase of 8.3% from the July 15th total of 57,390,930 shares. Currently, 17.2% of the company’s stock are sold short. Based on an average daily volume of 4,913,468 shares, the short-interest ratio is presently 12.7 days.
Transocean LTD (NYSE:RIG) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.12 by $0.49. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company posted $1.08 earnings per share. Transocean LTD’s revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Transocean LTD will post $4.53 earnings per share 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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