Equities analysts expect that Transocean Ltd. (NYSE:RIG) will report ($0.05) earnings per share for the current quarter, according to Zacks. Five analysts have made estimates for Transocean’s earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at ($0.14). Transocean posted earnings of $0.25 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 120%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 1st.

On average, analysts expect that Transocean will report full year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.50) to ($0.15). For the next fiscal year, analysts expect that the business will post earnings of ($0.83) per share, with EPS estimates ranging from ($1.14) to ($0.22). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Transocean.

A number of research analysts recently issued reports on the company. Jefferies Group LLC set a $12.00 price objective on Transocean and gave the stock a “hold” rating in a report on Saturday, July 1st. Royal Bank Of Canada set a $11.00 price objective on Transocean and gave the stock a “hold” rating in a report on Thursday. Nomura decreased their price target on Transocean from $8.00 to $7.00 and set a “reduce” rating for the company in a research note on Thursday, August 17th. ValuEngine upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Pareto Securities upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. Transocean presently has a consensus rating of “Hold” and an average price target of $12.41.

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Shares of Transocean (RIG) opened at 10.54 on Friday. Transocean has a one year low of $7.20 and a one year high of $16.66. The firm’s market capitalization is $4.12 billion. The stock’s 50 day moving average price is $8.97 and its 200 day moving average price is $9.64.

In other Transocean news, CAO Howard E. Davis purchased 40,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $7.32 per share, for a total transaction of $292,800.00. Following the purchase, the chief accounting officer now owns 21,793 shares in the company, valued at approximately $159,524.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

A number of hedge funds have recently modified their holdings of RIG. Russell Investments Group Ltd. grew its position in Transocean by 230.6% during the 1st quarter. Russell Investments Group Ltd. now owns 196,778 shares of the offshore drilling services provider’s stock worth $2,452,000 after acquiring an additional 137,248 shares during the last quarter. Wells Fargo & Company MN grew its position in Transocean by 21.6% during the 1st quarter. Wells Fargo & Company MN now owns 481,855 shares of the offshore drilling services provider’s stock worth $6,000,000 after acquiring an additional 85,486 shares during the last quarter. Sei Investments Co. grew its position in Transocean by 2.2% during the 1st quarter. Sei Investments Co. now owns 195,134 shares of the offshore drilling services provider’s stock worth $2,430,000 after acquiring an additional 4,293 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Transocean during the 1st quarter worth $116,000. Finally, Mason Street Advisors LLC grew its position in Transocean by 1.0% during the 1st quarter. Mason Street Advisors LLC now owns 53,796 shares of the offshore drilling services provider’s stock worth $670,000 after acquiring an additional 542 shares during the last quarter. Institutional investors and hedge funds own 67.81% of the company’s stock.

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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