Zacks: Analysts Anticipate Transocean LTD (RIG) Will Post Quarterly Sales of $682.22 Million
Equities analysts expect Transocean LTD (NYSE:RIG) to report sales of $682.22 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Transocean’s earnings, with the highest sales estimate coming in at $725.00 million and the lowest estimate coming in at $601.30 million. Transocean reported sales of $785.00 million in the same quarter last year, which would indicate a negative year over year growth rate of 13.1%. The company is expected to report its next earnings results on Wednesday, May 2nd.
On average, analysts expect that Transocean will report full year sales of $682.22 million for the current fiscal year, with estimates ranging from $2.12 billion to $3.12 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.70 billion per share, with estimates ranging from $1.66 billion to $3.11 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Transocean.
Transocean (NYSE:RIG) last issued its quarterly earnings results on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.03). The business had revenue of $629.00 million during the quarter, compared to analyst estimates of $619.66 million. Transocean had a negative net margin of 105.18% and a negative return on equity of 0.17%. The company’s revenue was down 35.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share.
Shares of Transocean (NYSE:RIG) traded up $0.12 on Wednesday, reaching $9.48. The company’s stock had a trading volume of 10,694,465 shares, compared to its average volume of 15,280,000. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a quick ratio of 3.06. The firm has a market cap of $3,710.00, a P/E ratio of -1.21 and a beta of 1.62. Transocean has a 52 week low of $7.20 and a 52 week high of $14.05.
In other Transocean news, SVP David A. Tonnel sold 9,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total value of $84,510.00. Following the completion of the transaction, the senior vice president now directly owns 75,349 shares of the company’s stock, valued at approximately $707,527.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Advisors Preferred LLC boosted its position in Transocean by 1,198.9% in the 4th quarter. Advisors Preferred LLC now owns 9,508 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 8,776 shares during the last quarter. Princeton Capital Management LLC purchased a new position in Transocean in the 4th quarter valued at about $107,000. Cushing Asset Management LP purchased a new position in Transocean in the 4th quarter valued at about $107,000. Dumont & Blake Investment Advisors LLC purchased a new position in Transocean in the 3rd quarter valued at about $108,000. Finally, Bluestein R H & Co. purchased a new position in Transocean in the 4th quarter valued at about $108,000. 62.76% of the stock is owned by institutional investors.
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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