Wall Street brokerages predict that Transocean LTD (NYSE:RIG) will post ($0.29) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Transocean’s earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at $0.10. Transocean reported earnings of $0.06 per share in the same quarter last year, which would indicate a negative year over year growth rate of 583.3%. The company is expected to announce its next earnings results on Monday, November 4th.
According to Zacks, analysts expect that Transocean will report full year earnings of ($1.02) per share for the current financial year, with EPS estimates ranging from ($1.36) to ($0.10). For the next year, analysts expect that the company will report earnings of ($0.52) per share, with EPS estimates ranging from ($1.15) to $0.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Transocean.
Transocean (NYSE:RIG) last released its earnings results on Monday, July 29th. The offshore drilling services provider reported ($0.34) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.34). Transocean had a negative return on equity of 4.18% and a negative net margin of 33.49%. The firm had revenue of $758.00 million for the quarter, compared to the consensus estimate of $765.81 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year.
In other news, Director Vanessa C. L. Chang acquired 4,300 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were bought at an average cost of $5.92 per share, for a total transaction of $25,456.00. Following the acquisition, the director now directly owns 14,000 shares in the company, valued at approximately $82,880. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Chad C. Deaton acquired 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $5.29 per share, for a total transaction of $132,250.00. Following the completion of the acquisition, the director now owns 24,800 shares in the company, valued at $131,192. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 134,849 shares of company stock worth $810,982. Company insiders own 11.05% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Transocean by 4.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,155 shares of the offshore drilling services provider’s stock valued at $533,000 after buying an additional 2,653 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Transocean in the first quarter valued at about $96,000. Tech Square Trading LP acquired a new stake in shares of Transocean in the first quarter valued at about $126,000. SG Americas Securities LLC grew its stake in shares of Transocean by 102.5% in the first quarter. SG Americas Securities LLC now owns 197,344 shares of the offshore drilling services provider’s stock valued at $1,719,000 after buying an additional 99,868 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Transocean by 1.7% in the first quarter. BlackRock Inc. now owns 47,148,891 shares of the offshore drilling services provider’s stock valued at $410,666,000 after buying an additional 785,189 shares in the last quarter. Institutional investors and hedge funds own 69.47% of the company’s stock.
NYSE RIG traded down $0.29 during trading hours on Friday, hitting $4.25. 21,303,697 shares of the company’s stock were exchanged, compared to its average volume of 25,481,730. The business’s 50 day moving average is $5.33 and its 200-day moving average is $7.22. Transocean has a 12-month low of $3.76 and a 12-month high of $14.47. The firm has a market capitalization of $2.78 billion, a P/E ratio of -5.38 and a beta of 1.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.55 and a current ratio of 2.88.
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.
Further Reading: Market Timing
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Transocean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean and related companies with MarketBeat.com's FREE daily email newsletter.