Transocean Ltd. (NYSE:RIG) – Equities research analysts at KeyCorp dropped their FY2017 earnings per share estimates for shares of Transocean in a research note issued on Monday. KeyCorp analyst R. Shoemaker now anticipates that the brokerage will earn ($0.63) per share for the year, down from their previous forecast of ($0.33). KeyCorp also issued estimates for Transocean’s FY2018 earnings at ($0.75) EPS.

Several other analysts also recently weighed in on the stock. Nomura set a $7.00 target price on shares of Transocean and gave the company a “sell” rating in a report on Tuesday, August 16th. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Transocean in a report on Friday, September 23rd. Howard Weil started coverage on shares of Transocean in a report on Wednesday, September 14th. They issued a “sector perform” rating and a $12.00 target price on the stock. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $5.00 target price on shares of Transocean in a report on Monday, August 8th. Finally, Zephirin Group raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Monday, September 19th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $10.34.

Earnings History and Estimates for Transocean (NYSE:RIG)

Shares of Transocean (NYSE:RIG) opened at 10.08 on Wednesday. The firm has a market cap of $3.68 billion, a P/E ratio of 2.94 and a beta of 1.91. Transocean has a 12-month low of $7.67 and a 12-month high of $17.19. The firm has a 50-day moving average of $9.80 and a 200-day moving average of $10.33.

Transocean (NYSE:RIG) last released its quarterly earnings data 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 net margin of 21.91% and a return on equity of 8.46%. The firm’s revenue was down 49.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.11 EPS.

Several hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in Transocean by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 10,390 shares of the offshore drilling services provider’s stock worth $124,000 after buying an additional 40 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in Transocean by 0.7% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 15,207 shares of the offshore drilling services provider’s stock worth $181,000 after buying an additional 100 shares during the period. Shoker Investment Counsel Inc. boosted its stake in Transocean by 0.5% in the second quarter. Shoker Investment Counsel Inc. now owns 22,226 shares of the offshore drilling services provider’s stock worth $264,000 after buying an additional 116 shares during the period. Norinchukin Bank The boosted its stake in Transocean by 2.5% in the second quarter. Norinchukin Bank The now owns 18,006 shares of the offshore drilling services provider’s stock worth $214,000 after buying an additional 441 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Transocean by 1.1% in the second quarter. PNC Financial Services Group Inc. now owns 51,386 shares of the offshore drilling services provider’s stock worth $612,000 after buying an additional 564 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Transocean Company Profile

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.

5 Day Chart for NYSE:RIG

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