Transocean (RIG) to Release Earnings on Wednesday

Transocean (NYSE:RIG) will issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of ($0.04) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The company had revenue of $861.00 million for the quarter, compared to analyst estimates of $862.25 million. During the same quarter last year, the business earned ($0.15) earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, analysts expect Transocean to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Transocean Price Performance

Transocean stock opened at $4.14 on Monday. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -7.96 and a beta of 2.79. The stock’s 50 day moving average is $4.43 and its 200-day moving average is $5.14. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. Transocean has a 12 month low of $3.85 and a 12 month high of $7.05.

Analysts Set New Price Targets

A number of brokerages have commented on RIG. StockNews.com raised Transocean to a “sell” rating in a report on Thursday, October 10th. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Barclays dropped their price objective on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley increased their target price on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Finally, Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.69.

Insider Activity at Transocean

In other Transocean news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the purchase, the director now owns 89,574,894 shares in the company, valued at $468,476,695.62. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Perestroika purchased 1,500,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the purchase, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the purchase, the director now directly owns 89,574,894 shares of the company’s stock, valued at approximately $468,476,695.62. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 13.16% of the stock is currently owned by insiders.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.