-$0.27 Earnings Per Share Expected for Transocean LTD (RIG) This Quarter

Equities research analysts expect Transocean LTD (NYSE:RIG) to report earnings per share (EPS) of ($0.27) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Transocean’s earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.41). Transocean reported earnings of $0.63 per share during the same quarter last year, which would indicate a negative year over year growth rate of 142.9%. The company is scheduled to report its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Transocean will report full-year earnings of ($0.36) per share for the current fiscal year, with EPS estimates ranging from ($0.67) to $0.04. For the next year, analysts anticipate that the firm will post earnings of ($0.79) per share, with EPS estimates ranging from ($1.70) to $0.02. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts 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, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The company had revenue of $808.00 million for the quarter, compared to analyst estimates of $703.13 million. During the same quarter last year, the firm earned $0.25 EPS. Transocean’s revenue for the quarter was down 10.8% compared to the same quarter last year.

RIG has been the topic of several recent research reports. initiated coverage on Transocean in a report on Thursday, October 19th. They set a “hold” rating and a $12.00 price objective on the stock. Jefferies Group lifted their price objective on Transocean from $10.50 to $11.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, October 3rd. ValuEngine raised Transocean from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Finally, Deutsche Bank initiated coverage on Transocean in a report on Tuesday, October 10th. They set a “buy” rating and a $13.00 price objective on the stock. Eleven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.28.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIG. State of Tennessee Treasury Department increased its holdings in Transocean by 0.5% in the second quarter. State of Tennessee Treasury Department now owns 106,955 shares of the offshore drilling services provider’s stock valued at $880,000 after purchasing an additional 545 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Transocean by 0.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,052 shares of the offshore drilling services provider’s stock valued at $239,000 after purchasing an additional 175 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Transocean in the second quarter valued at about $259,000. Alliancebernstein L.P. increased its holdings in Transocean by 1.4% in the second quarter. Alliancebernstein L.P. now owns 607,549 shares of the offshore drilling services provider’s stock valued at $5,000,000 after purchasing an additional 8,207 shares during the last quarter. Finally, Nationwide Fund Advisors grew its stake in Transocean by 81.0% in the second quarter. Nationwide Fund Advisors now owns 592,117 shares of the offshore drilling services provider’s stock valued at $4,873,000 after acquiring an additional 264,910 shares during the period. Institutional investors and hedge funds own 73.09% of the company’s stock.

Shares of Transocean (RIG) opened at $11.93 on Tuesday. Transocean has a fifty-two week low of $7.20 and a fifty-two week high of $15.65. The firm has a market capitalization of $4,670.00, a P/E ratio of -1.67 and a beta of 1.79. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51.

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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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