Transocean (RIG) Set to Announce Earnings on Monday

Transocean (NYSE:RIG) is scheduled to be posting its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Transocean to post earnings of ($0.10) per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Transocean (NYSE:RIG) last announced its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. The firm had revenue of $741.00 million during the quarter, compared to analyst estimates of $779.17 million. During the same period in the prior year, the business earned ($0.49) EPS. On average, analysts expect Transocean to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Transocean Trading Up 2.2 %

Transocean stock opened at $5.67 on Monday. The firm has a 50-day moving average of $5.64 and a 200-day moving average of $6.06. Transocean has a one year low of $4.45 and a one year high of $8.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.22. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -4.46 and a beta of 2.78.

Analyst Ratings Changes

A number of research firms have recently commented on RIG. Bank of America increased their price objective on shares of Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Morgan Stanley reduced their price objective on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Citigroup dropped their target price on shares of Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Finally, Barclays dropped their target price on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.22.

Institutional Investors Weigh In On Transocean

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Transocean by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock valued at $435,306,000 after acquiring an additional 4,107,956 shares during the period. BlackRock Inc. raised its holdings in Transocean by 64.4% in the 1st quarter. BlackRock Inc. now owns 27,992,307 shares of the offshore drilling services provider’s stock valued at $178,031,000 after acquiring an additional 10,962,276 shares during the period. Morgan Stanley raised its holdings in Transocean by 60.7% in the 4th quarter. Morgan Stanley now owns 18,330,357 shares of the offshore drilling services provider’s stock valued at $83,586,000 after acquiring an additional 6,925,085 shares during the period. Dimensional Fund Advisors LP raised its holdings in Transocean by 4.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,924,313 shares of the offshore drilling services provider’s stock valued at $59,071,000 after acquiring an additional 535,577 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Transocean by 95.2% in the 1st quarter. Renaissance Technologies LLC now owns 11,892,498 shares of the offshore drilling services provider’s stock valued at $75,637,000 after acquiring an additional 5,800,435 shares during the period. 67.73% of the stock is owned by institutional investors.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.