Equities research analysts expect Transocean LTD (NYSE:RIG) to post $677.30 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Transocean’s earnings. The highest sales estimate is $725.00 million and the lowest is $601.30 million. Transocean reported sales of $785.00 million in the same quarter last year, which indicates a negative year-over-year growth rate of 13.7%. The company is expected to issue its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Transocean will report full-year sales of $677.30 million for the current financial year, with estimates ranging from $2.79 billion to $3.06 billion. For the next year, analysts expect that the firm will report sales of $2.85 billion per share, with estimates ranging from $2.72 billion to $3.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Transocean.
Transocean (NYSE:RIG) last posted its quarterly earnings results on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.03). The business had revenue of $629.00 million for the quarter, compared to the consensus estimate of $619.66 million. Transocean had a negative net margin of 105.18% and a negative return on equity of 0.17%. Transocean’s revenue was down 35.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share.
A number of research firms have commented on RIG. Cowen set a $11.00 price target on Transocean and gave the company a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $10.00 target price on Transocean and gave the stock a “hold” rating in a report on Friday, February 16th. Jefferies Group raised Transocean from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Thursday, January 4th. Royal Bank of Canada set a $11.00 target price on Transocean and gave the stock a “hold” rating in a report on Thursday, December 21st. Finally, Piper Jaffray Companies set a $11.00 target price on Transocean and gave the stock a “hold” rating in a report on Wednesday, January 10th. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.99.
In other Transocean news, Director Frederik Wilhelm Mohn bought 2,000,000 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $9.29 per share, for a total transaction of $18,580,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David A. Tonnel sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total value of $84,510.00. Following the transaction, the senior vice president now owns 75,349 shares of the company’s stock, valued at approximately $707,527.11. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
Several large investors have recently made changes to their positions in RIG. Advisors Preferred LLC boosted its position in shares of Transocean by 1,198.9% during the fourth quarter. Advisors Preferred LLC now owns 9,508 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 8,776 shares during the period. Princeton Capital Management LLC purchased a new position in shares of Transocean during the fourth quarter valued at approximately $107,000. Cushing Asset Management LP purchased a new position in shares of Transocean during the fourth quarter valued at approximately $107,000. Bluestein R H & Co. purchased a new position in shares of Transocean during the fourth quarter valued at approximately $108,000. Finally, Suntrust Banks Inc. purchased a new position in shares of Transocean during the fourth quarter valued at approximately $112,000. Institutional investors and hedge funds own 63.89% of the company’s stock.
Shares of Transocean (NYSE:RIG) opened at $9.88 on Friday. The company has a current ratio of 3.36, a quick ratio of 3.06 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $4,378.05, a PE ratio of -1.24 and a beta of 1.62. Transocean has a twelve month low of $7.20 and a twelve month high of $13.04.
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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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