Transocean LTD (RIG) Expected to Earn Q1 2017 Earnings of ($0.05) Per Share

Transocean LTD (NYSE:RIG) – Analysts at Jefferies Group boosted their Q1 2017 earnings estimates for shares of Transocean LTD in a research report issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst E. Royes now anticipates that the offshore drilling services provider will post earnings per share of ($0.05) for the quarter, up from their prior estimate of ($0.07). Jefferies Group has a “Hold” rating and a $14.00 price target on the stock. Jefferies Group also issued estimates for Transocean LTD’s Q2 2017 earnings at ($0.07) EPS, Q3 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.30) EPS, FY2019 earnings at ($0.65) EPS and FY2020 earnings at ($0.10) EPS.

Transocean LTD (NYSE:RIG) last released its quarterly earnings results on Thursday, February 23rd. The offshore drilling services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.55. Transocean LTD had a net margin of 23.14% and a return on equity of 6.80%. The company earned $974 million during the quarter, compared to the consensus estimate of $785.52 million. TRADEMARK VIOLATION WARNING: This article was originally published by BBNS and is the property of of BBNS. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://baseballnewssource.com/markets/q1-2017-eps-estimates-for-transocean-ltd-rig-lifted-by-jefferies-group-updated-updated/525377.html.

Earnings History and Estimates for Transocean LTD (NYSE:RIG)

RIG has been the topic of a number of other research reports. BMO Capital Markets set a $10.00 target price on shares of Transocean LTD and gave the stock a “sell” rating in a research report on Thursday, January 12th. Morgan Stanley cut shares of Transocean LTD from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $13.94 to $13.99 in a research report on Thursday, February 2nd. They noted that the move was a valuation call. Vetr cut shares of Transocean LTD from a “strong-buy” rating to a “buy” rating and set a $14.51 target price on the stock. in a research report on Wednesday, March 15th. Bank of America Corp cut shares of Transocean LTD from a “buy” rating to an “underperform” rating and lifted their target price for the stock from $13.00 to $16.00 in a research report on Monday, January 9th. Finally, Credit Suisse Group AG upgraded shares of Transocean LTD from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $18.00 to $12.85 in a research report on Friday, February 3rd. Fourteen research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.49.

Transocean LTD (NYSE:RIG) traded down 0.88% during midday trading on Thursday, hitting $11.28. 6,844,098 shares of the stock were exchanged. Transocean LTD has a 1-year low of $8.68 and a 1-year high of $16.66. The firm’s 50-day moving average price is $12.38 and its 200 day moving average price is $12.72. The firm has a market capitalization of $4.39 billion, a P/E ratio of 5.42 and a beta of 1.87.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc. boosted its position in Transocean LTD by 31.0% in the third quarter. TD Asset Management Inc. now owns 907,343 shares of the offshore drilling services provider’s stock valued at $9,672,000 after buying an additional 214,598 shares during the last quarter. BlackRock Advisors LLC boosted its position in Transocean LTD by 2.0% in the third quarter. BlackRock Advisors LLC now owns 144,849 shares of the offshore drilling services provider’s stock valued at $1,544,000 after buying an additional 2,829 shares during the last quarter. Commonwealth Bank of Australia boosted its position in Transocean LTD by 52.8% in the third quarter. Commonwealth Bank of Australia now owns 447,658 shares of the offshore drilling services provider’s stock valued at $4,771,000 after buying an additional 154,600 shares during the last quarter. Federated Investors Inc. PA bought a new position in Transocean LTD during the fourth quarter valued at $101,000. Finally, Renaissance Technologies LLC boosted its position in Transocean LTD by 96.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,102,028 shares of the offshore drilling services provider’s stock valued at $45,724,000 after buying an additional 1,525,528 shares during the last quarter. 63.84% of the stock is owned by hedge funds and other institutional investors.

About Transocean LTD

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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