Wall Street brokerages expect Transocean LTD (NYSE:RIG) to announce earnings per share (EPS) of ($0.07) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Transocean’s earnings, with estimates ranging from ($0.14) to $0.03. Transocean reported earnings of $0.16 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 143.8%. The business is expected to report its next earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Transocean will report full year earnings of ($0.85) per share for the current fiscal year, with EPS estimates ranging from ($1.11) to ($0.50). For the next financial year, analysts forecast that the firm will post earnings of ($0.65) per share, with EPS estimates ranging from ($1.06) to ($0.39). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Transocean.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, July 30th. The offshore drilling services provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.13. Transocean had a negative net margin of 99.38% and a negative return on equity of 2.00%. The business had revenue of $790.00 million during the quarter, compared to the consensus estimate of $768.68 million. The firm’s revenue was up 5.2% compared to the same quarter last year.

A number of research analysts have recently weighed in on the stock. ValuEngine downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research report on Monday, September 10th. Piper Jaffray Companies reissued a “hold” rating and set a $13.20 target price on shares of Transocean in a research report on Wednesday, August 1st. Citigroup reduced their target price on shares of Transocean from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 21st. BMO Capital Markets reissued a “sell” rating and set a $8.00 target price on shares of Transocean in a research report on Friday, August 10th. Finally, BTIG Research assumed coverage on shares of Transocean in a research report on Monday, September 17th. They set a “buy” rating and a $18.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Transocean currently has a consensus rating of “Buy” and an average target price of $13.29.

Transocean stock opened at $13.54 on Thursday. Transocean has a twelve month low of $8.70 and a twelve month high of $14.34. The company has a quick ratio of 1.35, a current ratio of 1.49 and a debt-to-equity ratio of 0.63.

In other Transocean news, Director Vincent J. Intrieri acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was bought at an average cost of $10.62 per share, with a total value of $106,200.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $106,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new position in Transocean in the 2nd quarter worth approximately $101,000. Blue Chip Wealth Management Inc. bought a new position in Transocean in the 1st quarter worth approximately $103,000. United Capital Financial Advisers LLC bought a new position in Transocean in the 1st quarter worth approximately $150,000. Verition Fund Management LLC bought a new position in Transocean in the 2nd quarter worth approximately $167,000. Finally, Centaurus Financial Inc. bought a new position in Transocean in the 2nd quarter worth approximately $178,000. 70.74% of the stock is owned by institutional investors.

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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