Transocean (NYSE:RIG) issued its quarterly earnings data on Sunday. The offshore drilling services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01), MarketWatch Earnings reports. The firm had revenue of $653.00 million for the quarter, compared to the consensus estimate of $653.71 million. Transocean had a negative net margin of 17.85% and a negative return on equity of 4.55%. The business’s revenue was down 14.0% on a year-over-year basis. During the same period last year, the company posted ($0.30) earnings per share.
NYSE RIG traded up $0.02 on Tuesday, reaching $3.36. The company had a trading volume of 449,936 shares, compared to its average volume of 26,562,463. The company has a quick ratio of 1.75, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2.07 billion, a PE ratio of -3.25 and a beta of 3.75. The firm’s 50 day moving average price is $3.47 and its 200 day moving average price is $2.72. Transocean has a 12 month low of $0.65 and a 12 month high of $4.81.
Several equities analysts have recently commented on the stock. Barclays reissued an “underweight” rating and issued a $2.00 price target (up from $1.00) on shares of Transocean in a research note on Thursday, March 11th. Morgan Stanley increased their price target on shares of Transocean from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Monday, April 19th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $2.40.
Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleet such as ultra-deepwater, harsh-environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.
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