– $ 0.10 in earnings per share expected for Transocean Ltd. (NYSE: RIG) this quarter

Analysts predict that Transocean Ltd. (NYSE: RIG) will report earnings per share (EPS) of ($ 0.10) for the current fiscal quarter, Zacks investment research reports. Three analysts made estimates for Transocean’s revenue, with estimates ranging from ($ 0.20) to ($ 0.06). Transocean reported earnings per share of ($ 0.34) for the same quarter last year, which would suggest a positive year-over-year growth rate of 70.6%. The company is expected to announce its next quarterly results on Monday, February 28.

On average, analysts expect Transocean to report annual earnings of ($ 0.61) per share for the current year, with EPS estimates ranging from $ 0.72 to ($ 0.42). For the next fiscal year, analysts expect the company to report earnings of ($ 0.60) per share, with EPS estimates ranging from ($ 1.12) to ($ 0.34). Zacks earnings per share averages are an average based on a survey of analysts who follow Transocean.

Transocean (NYSE: RIG) last released its quarterly results on Monday, November 1. The offshore drilling service provider reported ($ 0.19) earnings per share for the quarter, missing Zacks’ consensus estimate of ($ 0.16) by ($ 0.03). Transocean had a negative net margin of 14.06% and a negative return on equity of 4.91%. The company posted revenue of $ 626.00 million for the quarter, compared to $ 659.16 million expected by analysts. In the same quarter of the previous year, the company made EPS ($ 0.11). The company’s revenue for the quarter was down 19.0% year-over-year.

Separately, Zacks investment research downgraded Transocean’s shares from a “buy” rating to a “keep” rating and set a price target of $ 4.00 for the share. in a research report on Thursday, November 11. One stock research analyst rated the stock with a sell rating and four rated the stock as a conservation rating. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $ 3.40.

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A number of institutional investors and hedge funds have recently changed their positions in RIG. Captrust Financial Advisors increased its stake in Transocean by 154.4% in the third quarter. Captrust Financial Advisors now owns 6,800 shares of the offshore drilling service provider valued at $ 26,000 after acquiring 4,127 more shares in the last quarter. FinTrust Capital Advisors LLC acquired a new stake in Transocean in the second quarter for a value of approximately $ 27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Transocean in the second quarter valued at approximately $ 38,000. USAdvisors Wealth Management LLC acquired a new stake in Transocean in the third quarter for a value of approximately $ 38,000. Finally, Soltis Investment Advisors LLC acquired a new stake in Transocean in the third quarter for a value of approximately $ 38,000. Institutional investors hold 63.52% of the shares of the company.

RIG NYSE opened for $ 3.31 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.91, and a debt ratio of 0.60. Transocean has a twelve month low of $ 2.35 and a twelve month high of $ 5.13. The stock’s 50-day simple moving average is $ 3.16, and its two-hundred-day simple moving average is $ 3.55. The company has a market cap of $ 2.17 billion, a price-to-earnings ratio of -5.61 and a beta of 3.30.

Transocean Company Profile

Transocean Ltd. provides offshore contract drilling services for oil and gas wells. It also owns and operates an offshore drilling fleet, such as ultra-deep, harsh environment, deep and mid-water rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.

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