Transocean LTD (RIG) Expected to Announce Earnings of -$0.26 Per Share

Wall Street brokerages predict that Transocean LTD (NYSE:RIG) will post earnings per share of ($0.26) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Transocean’s earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.41). Transocean reported earnings of $0.63 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 141.3%. The firm is scheduled to report its next quarterly earnings results after the market closes on Tuesday, February 20th.

On average, 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 financial year, analysts forecast that the company will report earnings of ($0.78) per share, with EPS estimates ranging from ($1.70) to ($0.16). Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Transocean.

RIG has been the topic of a number of recent research reports. ValuEngine downgraded Transocean from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Zacks Investment Research cut Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. began coverage on Transocean in a research note on Thursday, October 19th. They issued a “hold” rating and a $12.00 price target for the company. Cowen set a $8.00 price target on Transocean and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $7.35 price target on shares of Transocean in a research note on Sunday, October 22nd. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.11.

Shares of Transocean (NYSE:RIG) opened at $9.31 on Friday. Transocean has a 12-month low of $7.20 and a 12-month high of $14.33. The firm has a market capitalization of $4,416.81, a PE ratio of -1.31 and a beta of 1.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.13 and a current ratio of 2.36.

A number of institutional investors and hedge funds have recently modified their holdings of RIG. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Transocean by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,298 shares of the offshore drilling services provider’s stock worth $406,000 after acquiring an additional 226 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Transocean by 2.4% in the second quarter. Thrivent Financial For Lutherans now owns 14,840 shares of the offshore drilling services provider’s stock worth $122,000 after acquiring an additional 350 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Transocean by 0.5% in the second quarter. Stifel Financial Corp now owns 81,518 shares of the offshore drilling services provider’s stock worth $664,000 after acquiring an additional 410 shares during the last quarter. WFG Advisors LP boosted its stake in shares of Transocean by 60.3% in the second quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock worth $117,000 after acquiring an additional 5,338 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Transocean by 22.6% in the third quarter. Private Advisor Group LLC now owns 29,899 shares of the offshore drilling services provider’s stock worth $314,000 after acquiring an additional 5,513 shares during the last quarter. 73.16% of the stock is currently owned by institutional investors.

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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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