Q1 Earnings Estimate for Transocean Issued By Zacks Research

Transocean Ltd. (NYSE:RIG) – Stock analysts at Zacks Research increased their Q1 2028 earnings per share estimates for Transocean in a research report issued to clients and investors on Wednesday, June 3rd. Zacks Research analyst Team now expects that the offshore drilling services provider will post earnings per share of $0.00 for the quarter, up from their prior forecast of ($0.02). The consensus estimate for Transocean’s current full-year earnings is $0.19 per share. Zacks Research also issued estimates for Transocean’s FY2028 earnings at $0.01 EPS.

Several other equities analysts have also issued reports on the company. TD Cowen boosted their target price on Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Susquehanna boosted their target price on Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Fearnley Fonds lowered Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.96.

Transocean Price Performance

Shares of RIG stock opened at $6.26 on Friday. The stock has a 50-day moving average price of $6.53 and a 200 day moving average price of $5.55. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of -2.10 and a beta of 1.28. Transocean has a 12 month low of $2.51 and a 12 month high of $7.66.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.Transocean’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share.

Hedge Funds Weigh In On Transocean

Institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. lifted its holdings in shares of Transocean by 22,432.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after purchasing an additional 6,281 shares in the last quarter. Josh Arnold Investment Consultant LLC bought a new position in shares of Transocean during the 2nd quarter valued at about $26,000. Flagship Harbor Advisors LLC bought a new position in shares of Transocean during the 4th quarter valued at about $27,000. Vestmark Advisory Solutions Inc. bought a new position in shares of Transocean during the 3rd quarter valued at about $31,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Transocean during the 3rd quarter valued at about $31,000. Institutional investors own 67.73% of the company’s stock.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.