Transocean LTD (NYSE:RIG) – Stock analysts at Piper Jaffray Companies raised their Q4 2018 earnings per share estimates for Transocean in a research note issued on Wednesday, October 31st. Piper Jaffray Companies analyst I. Macpherson now anticipates that the offshore drilling services provider will post earnings per share of ($0.25) for the quarter, up from their previous estimate of ($0.31). Piper Jaffray Companies currently has a “Hold” rating and a $14.00 target price on the stock. Piper Jaffray Companies also issued estimates for Transocean’s Q3 2019 earnings at ($0.25) EPS, Q4 2019 earnings at ($0.19) EPS, FY2019 earnings at ($1.03) EPS and FY2020 earnings at ($0.76) EPS.
Several other research firms have also recently commented on RIG. ValuEngine raised shares of Transocean from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Susquehanna Bancshares set a $17.00 target price on shares of Transocean and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Tudor Pickering raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Credit Suisse Group set a $16.00 target price on shares of Transocean and gave the stock a “buy” rating in a research report on Friday, July 13th. Finally, Cowen assumed coverage on shares of Transocean in a research report on Saturday, October 13th. They issued a “hold” rating and a $12.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.79.
Shares of NYSE:RIG traded up $0.07 on Friday, hitting $11.08. The company had a trading volume of 155,024 shares, compared to its average volume of 14,724,008. Transocean has a 1 year low of $8.70 and a 1 year high of $14.47. The company has a current ratio of 3.07, a quick ratio of 1.35 and a debt-to-equity ratio of 0.75. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -183.33 and a beta of 1.48.
Transocean (NYSE:RIG) last posted its earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.16. Transocean had a negative net margin of 64.33% and a negative return on equity of 2.31%. The firm had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $779.19 million. During the same period last year, the company posted $0.16 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year.
In other news, Director Vincent J. Intrieri acquired 10,000 shares of Transocean stock in a transaction on Thursday, August 16th. The stock was acquired at an average cost of $10.62 per share, for a total transaction of $106,200.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $106,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC bought a new stake in Transocean during the 2nd quarter valued at about $101,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Transocean during the 3rd quarter valued at about $105,000. Mobius Capital Management LLC purchased a new stake in shares of Transocean during the 3rd quarter valued at about $112,000. MinichMacGregor Wealth Management LLC boosted its holdings in shares of Transocean by 100.0% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock valued at $141,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Transocean during the 2nd quarter valued at about $167,000. Institutional investors and hedge funds own 70.99% of the company’s stock.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.
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