Seaport Global Securities restated their sell rating on shares of Transocean Ltd. (NYSE:RIG) in a research note published on Wednesday morning. Seaport Global Securities also issued estimates for Transocean’s Q2 2017 earnings at ($0.05) EPS, Q3 2017 earnings at ($0.17) EPS, Q4 2017 earnings at ($0.37) EPS, FY2017 earnings at ($0.58) EPS, Q1 2018 earnings at ($0.29) EPS, Q2 2018 earnings at ($0.23) EPS, Q3 2018 earnings at ($0.25) EPS, Q4 2018 earnings at ($0.28) EPS, FY2018 earnings at ($1.06) EPS, Q1 2019 earnings at ($0.37) EPS, Q2 2019 earnings at ($0.30) EPS and FY2019 earnings at ($1.32) EPS.

Several other equities research analysts have also commented on RIG. Jefferies Group LLC restated a hold rating and set a $14.00 price target (up from $13.00) on shares of Transocean in a research note on Tuesday, April 11th. Deutsche Bank AG dropped their price target on Transocean from $8.00 to $7.00 and set a hold rating for the company in a research note on Tuesday, April 18th. BMO Capital Markets restated a sell rating and set a $10.00 price target on shares of Transocean in a research note on Tuesday, April 18th. Credit Suisse Group set a $18.00 price target on Transocean and gave the stock a buy rating in a research note on Thursday, April 20th. Finally, Royal Bank Of Canada restated an underperform rating and set a $15.00 price target on shares of Transocean in a research note on Tuesday, April 25th. Sixteen analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $12.86.

Shares of Transocean (NYSE RIG) opened at 8.69 on Wednesday. Transocean has a 12 month low of $7.67 and a 12 month high of $16.66. The company’s 50 day moving average price is $8.40 and its 200-day moving average price is $11.35. The firm has a market capitalization of $3.40 billion, a P/E ratio of 5.23 and a beta of 1.67.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. The company had revenue of $785 million during the quarter, compared to analyst estimates of $737.51 million. Transocean had a return on equity of 2.57% and a net margin of 17.28%. On average, equities analysts predict that Transocean will post ($0.41) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was first reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark law. The legal version of this article can be viewed at https://www.watchlistnews.com/transocean-ltd-rig-given-sell-rating-at-seaport-global-securities/1462204.html.

Hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in Transocean by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock valued at $200,000 after buying an additional 400 shares in the last quarter. State Treasurer State of Michigan boosted its stake in Transocean by 0.4% in the first quarter. State Treasurer State of Michigan now owns 127,848 shares of the offshore drilling services provider’s stock valued at $1,592,000 after buying an additional 500 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Transocean by 1.7% in the first quarter. Teacher Retirement System of Texas now owns 31,059 shares of the offshore drilling services provider’s stock valued at $387,000 after buying an additional 508 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Transocean by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 13,315 shares of the offshore drilling services provider’s stock valued at $166,000 after buying an additional 521 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Transocean by 1.0% in the first quarter. Mason Street Advisors LLC now owns 53,796 shares of the offshore drilling services provider’s stock valued at $670,000 after buying an additional 542 shares in the last quarter. Hedge funds and other institutional investors own 67.53% of the company’s stock.

Transocean Company Profile

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Analyst Recommendations for Transocean (NYSE:RIG)

Receive News & Ratings for Transocean Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.