Transocean Ltd. (NYSE:RIG) Set to Announce Earnings on Wednesday
Transocean Ltd. (NYSE:RIG) is scheduled to be releasing its earnings data after the market closes on Wednesday, August 2nd. Analysts expect Transocean to post earnings of ($0.09) per share for the quarter.
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, beating the consensus estimate of ($0.08) by $0.09. Transocean had a net margin of 17.28% and a return on equity of 2.57%. The firm had revenue of $785 million during the quarter, compared to the consensus estimate of $737.51 million. On average, analysts expect Transocean to post $-0.43 EPS for the current fiscal year and $-1.11 EPS for the next fiscal year.
Transocean Ltd. (NYSE:RIG) opened at 8.77 on Wednesday. The firm has a market cap of $3.43 billion, a P/E ratio of 5.27 and a beta of 1.67. The company has a 50-day moving average of $8.41 and a 200 day moving average of $11.49. Transocean Ltd. has a 52 week low of $7.67 and a 52 week high of $16.66.
A number of equities analysts recently weighed in on the company. Wells Fargo & Company reiterated a “market perform” rating on shares of Transocean in a research report on Saturday. Credit Suisse Group reiterated a “buy” rating on shares of Transocean in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $9.50 price target (down previously from $11.50) on shares of Transocean in a research report on Tuesday, July 18th. Sanford C. Bernstein lowered Transocean from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $16.50 to $9.00 in a research report on Thursday, July 6th. Finally, BidaskClub lowered Transocean from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Fifteen investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. Transocean currently has a consensus rating of “Hold” and an average target price of $12.86.
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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 stock was sold at an average price of $11.28, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.
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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