Transocean Ltd. (NYSE:RIG) – Stock analysts at Capital One Financial Corp. reduced their Q1 2017 EPS estimates for shares of Transocean in a research note issued on Monday. Capital One Financial Corp. analyst L. Lemoine now expects that the firm will earn ($0.07) per share for the quarter, down from their previous forecast of ($0.06). Capital One Financial Corp. also issued estimates for Transocean’s Q3 2017 earnings at ($0.25) EPS, Q4 2017 earnings at ($0.33) EPS, FY2017 earnings at ($0.72) EPS and FY2018 earnings at ($0.23) EPS.
Transocean (NYSE:RIG) last released its earnings results on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.18. The company earned $943 million during the quarter. Transocean had a return on equity of 8.46% and a net margin of 21.91%. The company’s revenue for the quarter was down 49.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 EPS.
A number of other research firms also recently commented on RIG. Canaccord Genuity upgraded Transocean from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. Clarkson Capital reissued a “neutral” rating and set a $12.00 price objective on shares of Transocean in a research note on Thursday, August 4th. Goldman Sachs Group Inc. reissued a “sell” rating on shares of Transocean in a research note on Friday, September 23rd. Vetr reissued a “buy” rating and set a $10.74 price objective on shares of Transocean in a research note on Thursday, August 18th. Finally, Jefferies Group reissued a “hold” rating and set a $10.00 price objective (down from $11.00) on shares of Transocean in a research note on Tuesday, August 16th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $10.34.
Transocean (NYSE:RIG) traded up 6.355% on Wednesday, hitting $10.125. The stock had a trading volume of 11,420,667 shares. The stock’s 50-day moving average is $9.80 and its 200 day moving average is $10.33. Transocean has a 1-year low of $7.67 and a 1-year high of $17.19. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 2.953 and a beta of 1.91.
Several large investors have recently bought and sold shares of RIG. Virginia Retirement System acquired a new stake in Transocean during the first quarter worth approximately $850,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Transocean during the first quarter worth $6,334,000. Aston Asset Management LLC raised its position in shares of Transocean by 20.6% in the first quarter. Aston Asset Management LLC now owns 110,735 shares of the offshore drilling services provider’s stock worth $1,012,000 after buying an additional 18,914 shares in the last quarter. BlackRock Inc. raised its position in shares of Transocean by 0.4% in the first quarter. BlackRock Inc. now owns 546,606 shares of the offshore drilling services provider’s stock worth $4,996,000 after buying an additional 2,025 shares in the last quarter. Finally, BlackRock Group LTD raised its position in shares of Transocean by 232.4% in the first quarter. BlackRock Group LTD now owns 1,802,349 shares of the offshore drilling services provider’s stock worth $16,473,000 after buying an additional 1,260,056 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.
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 primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.
Receive News & Ratings for Transocean Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.