Transocean Ltd. (NYSE:RIG) – Jefferies Group increased their Q2 2017 EPS estimates for Transocean in a research note issued on Tuesday. Jefferies Group analyst E. Royes now forecasts that the offshore drilling services provider will post earnings per share of ($0.13) for the quarter, up from their prior estimate of ($0.14). Jefferies Group currently has a “Hold” rating and a $9.50 price target on the stock. Jefferies Group also issued estimates for Transocean’s FY2017 earnings at ($0.55) EPS and FY2019 earnings at ($0.95) EPS.

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

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Several other research analysts have also commented on the stock. Credit Suisse Group restated a “buy” rating on shares of Transocean in a report on Wednesday. Sanford C. Bernstein lowered shares of Transocean from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $16.50 to $9.00 in a report on Thursday, July 6th. BidaskClub lowered shares of Transocean from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Morgan Stanley decreased their price objective on shares of Transocean from $13.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, June 16th. Finally, Odeon Capital Group LLC assumed coverage on shares of Transocean in a report on Wednesday, May 17th. They issued a “sell” rating and a $8.00 price objective for the company. Fifteen equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.86.

Transocean (NYSE RIG) opened at 8.89 on Thursday. Transocean has a 52 week low of $7.67 and a 52 week high of $16.66. The company has a market cap of $3.48 billion, a P/E ratio of 5.35 and a beta of 1.67. The company’s 50-day moving average is $8.46 and its 200-day moving average is $11.64.

Several large investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA bought a new stake in Transocean during the fourth quarter valued at about $101,000. Bank of Nova Scotia bought a new stake in Transocean during the first quarter valued at about $604,000. FNY Partners Fund LP bought a new stake in Transocean during the first quarter valued at about $108,000. WFG Advisors LP boosted its stake in 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 last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Transocean during the first quarter valued at about $116,000. Hedge funds and other institutional investors own 67.52% of the company’s stock.

In other Transocean news, SVP David A. Tonnel sold 9,450 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were 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 in the company, valued at approximately $618,651.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.

Earnings History and Estimates for Transocean (NYSE:RIG)

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