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.
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.
ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/23/0-27-earnings-per-share-expected-for-transocean-ltd-rig-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Transocean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean and related companies with MarketBeat.com's FREE daily email newsletter.