Analysts expect that Transocean Ltd. (NYSE:RIG) will post $643.19 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Transocean’s earnings. The lowest sales estimate is $589.44 million and the highest is $707.99 million. Transocean posted sales of $974.00 million in the same quarter last year, which suggests a negative year over year growth rate of 34%. The firm is scheduled to report its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Transocean will report full year sales of $643.19 million for the current financial year, with estimates ranging from $2.76 billion to $3.05 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.71 billion per share, with estimates ranging from $2.09 billion to $3.23 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Transocean.

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

Several research firms have commented on RIG. Clarkson Capital raised shares of Transocean from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Friday, September 1st. R. F. Lafferty set a $15.00 price target on shares of Transocean and gave the company a “buy” rating in a report on Saturday, August 26th. Royal Bank Of Canada upped their price target on shares of Transocean from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, November 14th. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, October 3rd. Eleven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.31.

Institutional investors have recently modified their holdings of the business. Dumont & Blake Investment Advisors LLC acquired a new position in shares of Transocean in the third quarter worth about $108,000. Saratoga Research & Investment Management acquired a new position in shares of Transocean during the 3rd quarter worth about $115,000. IndexIQ Advisors LLC acquired a new position in shares of Transocean during the 3rd quarter worth about $117,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Transocean during the 3rd quarter worth about $124,000. Finally, Investment Centers of America Inc. acquired a new position in shares of Transocean during the 3rd quarter worth about $127,000. Institutional investors and hedge funds own 73.09% of the company’s stock.

Shares of Transocean (NYSE:RIG) traded down $0.24 on Tuesday, hitting $10.59. 11,679,300 shares of the stock were exchanged, compared to its average volume of 13,863,915. The stock has a market capitalization of $4,236.84, a price-to-earnings ratio of 13.54 and a beta of 1.80. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. Transocean has a 12-month low of $7.20 and a 12-month high of $16.66.

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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.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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