Transocean LTD Receives Consensus Rating of “Hold” from Analysts (NYSE:RIG)
Shares of Transocean LTD (NYSE:RIG) have been given an average recommendation of “Hold” by the thirty-one brokerages that are covering the company, Stock Ratings Network reports. Five equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $43.77.
Shares of Transocean LTD (NYSE:RIG) opened at 37.97 on Wednesday. Transocean LTD has a 52 week low of $37.67 and a 52 week high of $55.74. The stock’s 50-day moving average is $41.05 and its 200-day moving average is $41.98. The company has a market cap of $13.752 billion and a price-to-earnings ratio of 7.73.
Transocean LTD (NYSE:RIG) last announced its 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. Analysts expect that Transocean LTD will post $4.56 EPS for the current fiscal year.
The company also recently announced a dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.75 per share. The ex-dividend date is Wednesday, August 20th.
A number of research firms have recently commented on RIG. Analysts at Goldman Sachs cut their price target on shares of Transocean LTD to $29.00 in a research note on Friday. Separately, analysts at Cowen and Company cut their price target on shares of Transocean LTD from $46.00 to $43.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Transocean LTD in a research note on Thursday. They now have a $42.00 price target on the stock.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.
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