Equities research analysts expect Transocean LTD (NYSE:RIG) to report sales of $773.30 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Transocean’s earnings, with the highest sales estimate coming in at $799.00 million and the lowest estimate coming in at $734.00 million. Transocean posted sales of $790.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 2.1%. The business is expected to announce its next earnings results on Monday, July 29th.

According to Zacks, analysts expect that Transocean will report full year sales of $3.20 billion for the current year, with estimates ranging from $3.06 billion to $3.28 billion. For the next financial year, analysts expect that the company will post sales of $3.47 billion, with estimates ranging from $3.32 billion to $3.85 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Transocean.

Transocean (NYSE:RIG) last announced its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.01). The company had revenue of $754.00 million for the quarter, compared to analysts’ expectations of $745.43 million. Transocean had a negative net margin of 62.97% and a negative return on equity of 2.70%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.48) earnings per share.

A number of equities research analysts have weighed in on the company. Citigroup lowered Transocean from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Friday, June 14th. ValuEngine lowered Transocean from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Bank of America assumed coverage on Transocean in a research note on Monday, June 10th. They set a “neutral” rating and a $6.50 price objective for the company. Goldman Sachs Group assumed coverage on Transocean in a research note on Sunday, March 10th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Zacks Investment Research lowered Transocean from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. Transocean presently has an average rating of “Hold” and a consensus price target of $12.61.

In other news, Director Vanessa C. L. Chang bought 4,300 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was bought at an average price of $5.92 per share, for a total transaction of $25,456.00. Following the transaction, the director now owns 14,000 shares in the company, valued at $82,880. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David A. Tonnel sold 16,561 shares of Transocean stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $9.25, for a total value of $153,189.25. Following the completion of the transaction, the senior vice president now owns 111,936 shares of the company’s stock, valued at approximately $1,035,408. The disclosure for this sale can be found here. 11.05% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc grew its position in shares of Transocean by 0.3% during the third quarter. Vanguard Group Inc now owns 38,625,518 shares of the offshore drilling services provider’s stock worth $538,826,000 after buying an additional 118,330 shares in the last quarter. M&T Bank Corp boosted its holdings in Transocean by 5.2% in the fourth quarter. M&T Bank Corp now owns 25,598 shares of the offshore drilling services provider’s stock valued at $178,000 after purchasing an additional 1,266 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Transocean by 50.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 33,754 shares of the offshore drilling services provider’s stock valued at $234,000 after purchasing an additional 11,377 shares in the last quarter. Comerica Bank lifted its stake in Transocean by 20.0% in the fourth quarter. Comerica Bank now owns 338,323 shares of the offshore drilling services provider’s stock valued at $2,855,000 after buying an additional 56,286 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in Transocean by 136.2% in the fourth quarter. Penserra Capital Management LLC now owns 16,368 shares of the offshore drilling services provider’s stock valued at $112,000 after buying an additional 9,438 shares during the last quarter. Institutional investors own 70.18% of the company’s stock.

Shares of NYSE:RIG traded up $0.02 during mid-day trading on Thursday, hitting $6.19. 14,709,700 shares of the company traded hands, compared to its average volume of 14,403,562. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -7.84 and a beta of 1.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.37 and a current ratio of 2.72. Transocean has a 52-week low of $5.28 and a 52-week high of $14.47. The stock’s 50 day moving average price is $6.60.

About Transocean

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.

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