Equities research analysts forecast that Transocean Ltd. (NYSE:RIG) will report ($0.22) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Transocean’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.47). Transocean posted earnings per share of $0.63 during the same quarter last year, which would suggest a negative year-over-year growth rate of 134.9%. The business is expected to announce its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Transocean will report full-year earnings of ($0.33) per share for the current year, with EPS estimates ranging from ($0.63) to $0.14. For the next year, analysts expect that the company will post earnings of ($0.79) per share, with EPS estimates ranging from ($1.35) to ($0.18). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Transocean.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The firm had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share.

RIG has been the subject of a number of recent analyst reports. Barclays set a $9.00 price target on shares of Transocean and gave the company a “sell” rating in a research note on Sunday, August 6th. Goldman Sachs Group upgraded shares of Transocean from a “sell” rating to a “neutral” rating and increased their price target for the company from $8.57 to $9.75 in a research note on Wednesday, August 9th. Evercore ISI reiterated a “buy” rating and issued a $18.00 price target on shares of Transocean in a research note on Thursday, August 10th. Bank of America upgraded shares of Transocean from an “underperform” rating to a “neutral” rating and increased their price target for the company from $7.00 to $9.00 in a research note on Tuesday, August 15th. Finally, Jefferies Group set a $9.00 price target on shares of Transocean and gave the company a “hold” rating in a research note on Wednesday, August 16th. Eleven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.31.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in Transocean by 12.1% during the second quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock worth $210,185,000 after acquiring an additional 2,756,207 shares during the period. State Street Corp increased its position in Transocean by 7.5% during the second quarter. State Street Corp now owns 22,918,962 shares of the offshore drilling services provider’s stock worth $188,616,000 after acquiring an additional 1,593,179 shares during the period. Dimensional Fund Advisors LP increased its position in Transocean by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 12,729,364 shares of the offshore drilling services provider’s stock worth $136,965,000 after acquiring an additional 135,470 shares during the period. Contrarius Investment Management Ltd increased its position in Transocean by 10.3% during the third quarter. Contrarius Investment Management Ltd now owns 10,742,267 shares of the offshore drilling services provider’s stock worth $115,587,000 after acquiring an additional 1,002,237 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its position in Transocean by 129.6% during the second quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock worth $51,844,000 after acquiring an additional 3,556,281 shares during the period. 73.13% of the stock is currently owned by institutional investors.

Shares of Transocean (NYSE:RIG) opened at $10.83 on Friday. The company has a market cap of $3,966.90, a price-to-earnings ratio of 12.68 and a beta of 1.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. Transocean has a 12 month low of $7.20 and a 12 month high of $16.66.

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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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