$723.01 Million in Sales Expected for Transocean LTD (RIG) This Quarter

Analysts forecast that Transocean LTD (NYSE:RIG) will announce $723.01 million in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Transocean’s earnings, with the lowest sales estimate coming in at $676.37 million and the highest estimate coming in at $752.59 million. Transocean posted sales of $629.00 million in the same quarter last year, which suggests a positive year over year growth rate of 14.9%. The firm is scheduled to announce its next earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Transocean will report full year sales of $2.96 billion for the current fiscal year, with estimates ranging from $2.84 billion to $3.02 billion. For the next financial year, analysts expect that the business will report sales of $3.13 billion, with estimates ranging from $2.55 billion to $3.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Transocean.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.16. The company had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $779.19 million. Transocean had a negative return on equity of 2.31% and a negative net margin of 64.33%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share.

Several equities research analysts have recently weighed in on RIG shares. UBS Group raised Transocean from an “accumulate” rating to a “buy” rating in a research note on Thursday, October 18th. Piper Jaffray Companies set a $14.00 price target on Transocean and gave the company a “hold” rating in a research note on Monday, October 1st. ValuEngine raised Transocean from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Morgan Stanley started coverage on Transocean in a research note on Tuesday, September 18th. They issued an “overweight” rating and a $15.00 price target for the company. Finally, Cowen started coverage on Transocean in a research note on Saturday, October 13th. They issued a “hold” rating and a $12.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $13.79.

Shares of RIG stock traded up $0.04 on Friday, hitting $10.53. The company had a trading volume of 16,339,300 shares, compared to its average volume of 14,270,564. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of -175.92 and a beta of 1.60. The company has a current ratio of 3.07, a quick ratio of 2.77 and a debt-to-equity ratio of 0.75. Transocean has a twelve month low of $8.70 and a twelve month high of $14.47.

In other Transocean news, Director Vincent J. Intrieri bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was acquired at an average price of $10.62 per share, with a total value of $106,200.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $106,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

A number of large investors have recently made changes to their positions in RIG. Flagship Harbor Advisors LLC bought a new position in Transocean in the second quarter worth approximately $101,000. Stratos Wealth Partners LTD. bought a new position in Transocean in the third quarter worth approximately $105,000. Mobius Capital Management LLC bought a new position in Transocean in the third quarter worth approximately $112,000. MinichMacGregor Wealth Management LLC boosted its holdings in Transocean by 100.0% in the third quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock worth $141,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in Transocean in the second quarter worth approximately $167,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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