-$0.29 EPS Expected for Transocean LTD (RIG) This Quarter

Equities analysts expect Transocean LTD (NYSE:RIG) to report earnings of ($0.29) per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Transocean’s earnings, with estimates ranging from ($0.35) to ($0.19). Transocean posted earnings of ($0.48) per share during the same quarter last year, which would indicate a positive year over year growth rate of 39.6%. The business is scheduled to report its next earnings report after the market closes on Monday, April 29th.

According to Zacks, analysts expect that Transocean will report full year earnings of ($0.81) per share for the current year, with EPS estimates ranging from ($1.08) to ($0.59). For the next year, analysts anticipate that the firm will post earnings of ($0.48) per share, with EPS estimates ranging from ($1.01) to ($0.20). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Transocean.

Transocean (NYSE:RIG) last posted its earnings results on Monday, February 18th. The offshore drilling services provider reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). Transocean had a negative return on equity of 2.90% and a negative net margin of 66.14%. The company had revenue of $748.00 million during the quarter, compared to the consensus estimate of $741.18 million. During the same period last year, the firm posted ($0.24) EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis.

Several research analysts have recently weighed in on RIG shares. Goldman Sachs Group started coverage on shares of Transocean in a research note on Sunday, March 10th. They set a “buy” rating and a $11.00 price target on the stock. Zacks Investment Research cut shares of Transocean from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. Barclays reiterated an “underweight” rating on shares of Transocean in a research note on Thursday, February 21st. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. Finally, UBS Group set a $12.00 price target on shares of Transocean and gave the stock a “buy” rating in a research note on Thursday, December 20th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Transocean currently has a consensus rating of “Hold” and an average price target of $13.80.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. We Are One Seven LLC purchased a new position in shares of Transocean in the fourth quarter worth about $31,000. NuWave Investment Management LLC lifted its stake in Transocean by 2,193.1% in the fourth 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 during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Transocean in the first quarter worth approximately $70,000. National Asset Management Inc. purchased a new position in Transocean in the fourth quarter worth approximately $71,000. Finally, Magnus Financial Group LLC purchased a new position in Transocean in the fourth quarter worth approximately $71,000. Institutional investors own 76.15% of the company’s stock.

NYSE:RIG traded down $0.14 during trading hours on Wednesday, reaching $8.68. The company had a trading volume of 152,060 shares, compared to its average volume of 11,083,164. The company has a current ratio of 2.71, a quick ratio of 2.38 and a debt-to-equity ratio of 0.73. Transocean has a 52 week low of $6.19 and a 52 week high of $14.47. The company has a market cap of $5.38 billion, a PE ratio of -10.97 and a beta of 1.83.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

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