Equities research analysts predict that Transocean LTD (NYSE:RIG) will report earnings of ($0.22) per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Transocean’s earnings, with estimates ranging from ($0.29) to ($0.15). Transocean reported earnings of ($0.24) per share during the same quarter last year, which would indicate a positive year over year growth rate of 8.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Transocean will report full year earnings of ($0.73) per share for the current fiscal year, with EPS estimates ranging from ($0.85) to ($0.63). For the next financial year, analysts forecast that the company will report earnings of ($0.64) per share, with EPS estimates ranging from ($1.03) to ($0.24). Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Transocean.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.16. Transocean had a negative return on equity of 2.31% and a negative net margin of 64.33%. The firm had revenue of $816.00 million during the quarter, compared to the consensus estimate of $779.19 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis.

Several research firms have recently issued reports on RIG. ValuEngine raised Transocean from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Wells Fargo & Co raised Transocean from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $13.00 to $16.00 in a research note on Wednesday, September 19th. Morgan Stanley started coverage on Transocean in a research note on Tuesday, September 18th. They set an “overweight” rating and a $15.00 target price on the stock. Credit Suisse Group started coverage on Transocean in a research note on Thursday, December 13th. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, Royal Bank of Canada raised Transocean from a “sector perform” rating to an “outperform” rating in a research note on Thursday, September 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $13.70.

In related news, CAO Howard E. Davis sold 10,298 shares of the company’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $7.28, for a total value of $74,969.44. Following the sale, the chief accounting officer now directly owns 55,212 shares of the company’s stock, valued at $401,943.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Vanessa C. L. Chang purchased 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, for a total transaction of $48,000.00. Following the completion of the purchase, the director now owns 9,700 shares of the company’s stock, valued at $77,600. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 120,722 shares of company stock worth $858,980. 14.09% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Transocean in the second quarter worth $101,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Transocean in the third quarter worth $105,000. Mobius Capital Management LLC purchased a new stake in shares of Transocean in the third quarter worth $112,000. MinichMacGregor Wealth Management LLC grew its stake in shares of Transocean by 100.0% in the third quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock worth $141,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Griffin Asset Management Inc. purchased a new stake in shares of Transocean in the third quarter worth $153,000. 81.03% of the stock is currently owned by hedge funds and other institutional investors.

RIG opened at $8.25 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.77 and a current ratio of 3.07. Transocean has a 52-week low of $6.19 and a 52-week high of $14.47. The company has a market cap of $3.94 billion, a PE ratio of -137.50 and a beta of 1.68.

About Transocean

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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Earnings History and Estimates for Transocean (NYSE:RIG)

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