Transocean (RIG) Scheduled to Post Quarterly Earnings on Monday

Transocean (NYSE:RIG) is scheduled to post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Transocean to post earnings of ($0.10) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Transocean (NYSE:RIG) last issued its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.12. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. The firm had revenue of $741.00 million for the quarter, compared to analysts’ expectations of $779.17 million. During the same quarter last year, the business earned ($0.49) earnings per share. On average, analysts expect Transocean to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Transocean Trading Up 2.3 %

NYSE:RIG opened at $5.87 on Friday. The firm has a market capitalization of $4.81 billion, a P/E ratio of -4.62 and a beta of 2.78. Transocean has a 52 week low of $4.45 and a 52 week high of $8.88. The company has a quick ratio of 1.22, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $5.71 and a 200 day moving average of $6.01.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RIG shares. Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and boosted their price target for the company from $5.50 to $9.00 in a report on Monday, April 8th. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, February 20th. Morgan Stanley reduced their price objective on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Barclays dropped their target price on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Finally, Bank of America boosted their price target on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.22.

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.