Transocean LTD (NYSE:RIG) – Equities researchers at Capital One Financial dropped their Q1 2019 earnings per share (EPS) estimates for shares of Transocean in a research report issued to clients and investors on Tuesday, February 19th. Capital One Financial analyst L. Lemoine now forecasts that the offshore drilling services provider will post earnings per share of ($0.22) for the quarter, down from their prior forecast of ($0.08). Capital One Financial also issued estimates for Transocean’s Q2 2019 earnings at ($0.14) EPS, Q3 2019 earnings at ($0.13) EPS, Q4 2019 earnings at ($0.14) EPS, FY2019 earnings at ($0.63) EPS and FY2020 earnings at ($0.55) EPS.
Several other research analysts have also recently weighed in on RIG. Barclays reaffirmed an “underweight” rating on shares of Transocean in a research note on Thursday. ValuEngine downgraded Transocean from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 1st. DNB Markets raised Transocean from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. UBS Group set a $12.00 target price on Transocean and gave the company a “buy” rating in a report on Thursday, December 20th. Finally, Credit Suisse Group started coverage on Transocean in a report on Thursday, December 13th. They set an “outperform” rating and a $14.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.83.
Shares of RIG stock opened at $8.25 on Friday. Transocean has a fifty-two week low of $6.19 and a fifty-two week high of $14.47. The stock has a market cap of $3.93 billion, a P/E ratio of -10.44 and a beta of 1.81. The company has a quick ratio of 2.77, a current ratio of 2.71 and a debt-to-equity ratio of 0.73.
Transocean (NYSE:RIG) last announced its earnings results on Monday, February 18th. The offshore drilling services provider reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.10). Transocean had a negative net margin of 66.14% and a negative return on equity of 2.90%. The firm had revenue of $748.00 million for the quarter, compared to the consensus estimate of $741.18 million. During the same period in the prior year, the business earned ($0.24) EPS. The company’s quarterly revenue was up 18.9% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the stock. We Are One Seven LLC purchased a new stake in Transocean in the 4th quarter worth about $31,000. Stratos Wealth Partners LTD. purchased a new stake in Transocean in the 3rd quarter worth about $105,000. Mobius Capital Management LLC purchased a new stake in Transocean in the 3rd quarter worth about $112,000. NuWave Investment Management LLC lifted its stake in Transocean by 2,193.1% in the 4th quarter. NuWave Investment Management LLC now owns 8,324 shares of the offshore drilling services provider’s stock worth $57,000 after acquiring an additional 7,961 shares in the last quarter. Finally, National Asset Management Inc. purchased a new stake in Transocean in the 4th quarter worth about $71,000. 84.55% of the stock is owned by hedge funds and other institutional investors.
In other Transocean news, Director Vanessa C. L. Chang acquired 6,000 shares of Transocean stock in a transaction that occurred on Monday, December 10th. The stock was purchased at an average cost of $8.00 per share, with a total value of $48,000.00. Following the purchase, the director now owns 9,700 shares in the company, valued at $77,600. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Howard E. Davis sold 10,298 shares of the stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $7.28, for a total value of $74,969.44. Following the completion of the sale, the chief accounting officer now directly owns 55,212 shares of the company’s stock, valued at $401,943.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,722 shares of company stock valued at $858,980. 14.09% of the stock is currently owned by company insiders.
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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