Transocean Ltd. (NYSE:RIG) was downgraded by stock analysts at TheStreet from a “c-” rating to a “d” rating in a report released on Friday, November 3rd.
Several other analysts have also issued reports on the stock. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. ValuEngine upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, August 2nd. BMO Capital Markets set a $7.00 price objective on shares of Transocean and gave the company a “sell” rating in a report on Wednesday, October 18th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Transocean from a “sell” rating to a “neutral” rating and upped their price objective for the company from $8.57 to $9.75 in a report on Wednesday, August 9th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Transocean has a consensus rating of “Hold” and an average price target of $12.31.
Shares of Transocean (NYSE:RIG) opened at $10.24 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. The company has a market cap of $4,010.00, a price-to-earnings ratio of 12.71 and a beta of 1.81. Transocean has a 1 year low of $7.20 and a 1 year high of $16.66.
Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. The business had revenue of $808.00 million for the quarter, compared to analyst estimates of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. research analysts forecast that Transocean will post -0.32 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Nova Scotia acquired a new stake in Transocean in the 1st quarter valued at $604,000. Dumont & Blake Investment Advisors LLC acquired a new stake in Transocean in the 3rd quarter valued at $108,000. Saratoga Research & Investment Management acquired a new stake in Transocean in the 3rd quarter valued at $115,000. IndexIQ Advisors LLC acquired a new stake in Transocean in the 3rd quarter valued at $117,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Transocean in the 3rd quarter valued at $124,000. 70.60% of the stock is owned by institutional investors and hedge funds.
Transocean Company Profile
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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