Wall Street brokerages forecast that Transocean Ltd. (NYSE:RIG) will announce sales of $711.37 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Transocean’s earnings. The highest sales estimate is $764.60 million and the lowest is $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 24.6%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, August 2nd.

On average, analysts expect that Transocean will report full year sales of $711.37 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 company will report sales of $2.45 billion per share, with estimates ranging from $2.31 billion to $2.65 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Transocean.

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

Several analysts have issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Transocean in a research note on Tuesday, April 11th. BMO Capital Markets reissued a “sell” rating and issued a $10.00 price objective on shares of Transocean in a research note on Tuesday, April 18th. Deutsche Bank AG decreased their price objective on shares of Transocean from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, April 18th. Credit Suisse Group set a $18.00 price objective on shares of Transocean and gave the stock a “buy” rating in a research note on Thursday, April 20th. Finally, Royal Bank Of Canada reissued an “underperform” rating and issued a $15.00 price objective on shares of Transocean in a research note on Tuesday, April 25th. Fifteen equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.86.

Shares of Transocean (RIG) traded down 1.60% on Wednesday, reaching $8.63. The company had a trading volume of 11,004,591 shares. Transocean has a 52 week low of $7.67 and a 52 week high of $16.66. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 5.19 and a beta of 1.67. The stock’s 50 day moving average is $8.41 and its 200 day moving average is $11.49. Transocean also was the target of unusually large options trading activity on Tuesday. Investors purchased 47,393 call options on the stock. This is an increase of approximately 683% compared to the average daily volume of 6,049 call options.

In other news, SVP David A. Tonnel sold 9,450 shares of Transocean stock in a transaction 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 completion of the sale, the senior vice president now directly owns 54,845 shares in the company, valued at $618,651.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Federated Investors Inc. PA bought a new stake in Transocean during the fourth quarter valued at approximately $101,000. FNY Partners Fund LP bought a new stake in Transocean during the first quarter valued at approximately $108,000. WFG Advisors LP increased 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. Ameritas Investment Partners Inc. bought a new stake in Transocean during the first quarter valued at approximately $116,000. Finally, Ronald Blue & Co. LLC bought a new stake in Transocean during the first quarter valued at approximately $125,000. Institutional investors and hedge funds own 67.53% of the company’s stock.

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About Transocean

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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