Wall Street brokerages forecast that Transocean Ltd. (NYSE:RIG) will report $715.63 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Transocean’s earnings, with the highest sales estimate coming in at $764.60 million and the lowest estimate coming in at $671.35 million. Transocean reported sales of $943.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 24.1%. The company is expected to announce its next quarterly earnings results on Wednesday, August 2nd.

On average, analysts expect that Transocean will report full-year sales of $715.63 million for the current fiscal year, with estimates ranging from $2.68 billion to $2.84 billion. For the next year, analysts expect that the business will post sales of $2.50 billion per share, with estimates ranging from $2.31 billion to $2.77 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Transocean.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. Transocean had a return on equity of 2.57% and a net margin of 17.28%. The business had revenue of $785 million for the quarter, compared to analyst estimates of $737.51 million.

A number of equities research analysts recently commented on RIG shares. Vetr upgraded Transocean from a “hold” rating to a “buy” rating and set a $14.26 target price on the stock in a research report on Monday, March 6th. Evercore ISI reiterated an “outperform” rating and issued a $24.00 target price on shares of Transocean in a research report on Monday, March 13th. Jefferies Group LLC decreased their target price on Transocean from $14.50 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, March 21st. Scotiabank restated a “buy” rating and set a $21.00 price objective on shares of Transocean in a research report on Wednesday, March 22nd. Finally, Tudor Pickering assumed coverage on Transocean in a research report on Thursday, March 23rd. They set a “hold” rating on the stock. Sixteen research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.06.

Transocean (RIG) traded down 0.36% during trading on Friday, reaching $8.28. The company had a trading volume of 11,202,383 shares. The company has a market capitalization of $3.24 billion, a PE ratio of 4.98 and a beta of 1.70. Transocean has a one year low of $7.67 and a one year high of $16.66. The firm’s 50 day moving average is $9.23 and its 200 day moving average is $12.29.

In other Transocean news, SVP David A. Tonnel sold 9,450 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $11.28, for a total transaction of $106,596.00. Following the sale, the senior vice president now owns 54,845 shares of the company’s stock, valued at approximately $618,651.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. WFG Advisors LP boosted its stake in shares of Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock valued at $110,000 after buying an additional 2,562 shares during the period. Wells Fargo & Company MN raised its stake in shares of Transocean by 21.6% in the first quarter. Wells Fargo & Company MN now owns 481,855 shares of the offshore drilling services provider’s stock valued at $6,000,000 after buying an additional 85,486 shares in the last quarter. Hartford Investment Management Co. raised its stake in shares of Transocean by 0.6% in the first quarter. Hartford Investment Management Co. now owns 103,575 shares of the offshore drilling services provider’s stock valued at $1,290,000 after buying an additional 654 shares in the last quarter. Cibc World Markets Corp raised its stake in shares of Transocean by 51.9% in the first quarter. Cibc World Markets Corp now owns 40,648 shares of the offshore drilling services provider’s stock valued at $506,000 after buying an additional 13,893 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Transocean by 49.8% in the first quarter. Private Advisor Group LLC now owns 34,191 shares of the offshore drilling services provider’s stock valued at $425,000 after buying an additional 11,360 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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Transocean Company Profile

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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