Transocean (NYSE:RIG) issued its quarterly earnings results on Tuesday. The offshore drilling services provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03), Briefing.com reports. The company had revenue of $629.00 million during the quarter, compared to analyst estimates of $619.66 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The business’s revenue for the quarter was down 35.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS.
Transocean (NYSE RIG) opened at $9.09 on Wednesday. The firm has a market cap of $4,164.81, a price-to-earnings ratio of 11.36 and a beta of 1.55. Transocean has a 52-week low of $7.20 and a 52-week high of $14.33. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51.
A number of analysts recently weighed in on RIG shares. Jefferies Group raised shares of Transocean from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, January 4th. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. TheStreet lowered shares of Transocean from a “c-” rating to a “d” rating in a report on Friday, November 3rd. Susquehanna Bancshares set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a report on Friday, January 12th. Finally, Cowen set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a report on Thursday, January 11th. Eleven analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.08.
In other news, SVP David A. Tonnel sold 9,000 shares of Transocean stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total transaction of $84,510.00. Following the transaction, the senior vice president now directly owns 75,349 shares of the company’s stock, valued at $707,527.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.
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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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