Brokerages predict that Transocean Ltd. (NYSE:RIG) will announce ($0.07) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Transocean’s earnings. The lowest EPS estimate is ($0.14) and the highest is $0.03. Transocean reported earnings per share of $0.25 in the same quarter last year, which would indicate a negative year over year growth rate of 128%. The company is scheduled to announce its next earnings report on Wednesday, November 1st.

On average, analysts expect that Transocean will report full year earnings of ($0.32) per share for the current year, with EPS estimates ranging from ($0.50) to ($0.16). For the next fiscal year, analysts forecast that the business will post earnings of ($0.82) per share, with EPS estimates ranging from ($1.14) to ($0.26). Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Transocean.

RIG has been the topic of a number of research analyst reports. Clarkson Capital raised shares of Transocean from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Friday, September 1st. Credit Suisse Group reissued a “buy” rating on shares of Transocean in a report on Wednesday, July 19th. R. F. Lafferty set a $15.00 price objective on shares of Transocean and gave the company a “buy” rating in a report on Saturday, August 26th. Sanford C. Bernstein lowered shares of Transocean from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $16.50 to $9.00 in a report on Thursday, July 6th. Finally, Jefferies Group LLC set a $12.00 price objective on shares of Transocean and gave the company a “hold” rating in a report on Wednesday, May 24th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.21.

Transocean (NYSE RIG) traded up 0.22% during trading on Friday, hitting $9.24. The stock had a trading volume of 19,083,133 shares. The stock’s market cap is $3.61 billion. Transocean has a 12 month low of $7.20 and a 12 month high of $16.66. The firm has a 50 day moving average of $8.36 and a 200-day moving average of $9.93.

In other news, CAO Howard E. Davis purchased 40,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average price of $7.32 per share, with a total value of $292,800.00. Following the purchase, the chief accounting officer now directly owns 21,793 shares in the company, valued at approximately $159,524.76. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. WFG Advisors LP grew its stake in shares of Transocean by 60.3% in the 2nd quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock valued at $117,000 after buying an additional 5,338 shares during the period. Toronto Dominion Bank grew its stake in shares of Transocean by 26.9% in the 2nd quarter. Toronto Dominion Bank now owns 127,856 shares of the offshore drilling services provider’s stock valued at $1,052,000 after buying an additional 27,064 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Transocean in the 2nd quarter valued at approximately $1,302,000. Koch Industries Inc. purchased a new stake in shares of Transocean in the 2nd quarter valued at approximately $319,000. Finally, Piedmont Investment Advisors LLC grew its stake in shares of Transocean by 16.7% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 283,454 shares of the offshore drilling services provider’s stock valued at $2,333,000 after buying an additional 40,624 shares during the period. 67.84% of the stock is owned by institutional investors and hedge funds.

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About Transocean

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.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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