Transocean Ltd. (RIG) Expected to Post Q2 2017 Earnings of ($0.10) Per Share

Transocean Ltd. (NYSE:RIG) – Equities researchers at Capital One Financial Corporation raised their Q2 2017 earnings estimates for Transocean in a research note issued on Wednesday. Capital One Financial Corporation analyst J. Gibney now expects that the offshore drilling services provider will post earnings per share of ($0.10) for the quarter, up from their prior forecast of ($0.12). Capital One Financial Corporation also issued estimates for Transocean’s Q3 2017 earnings at ($0.09) EPS, Q4 2017 earnings at ($0.14) EPS, FY2017 earnings at ($0.32) EPS and FY2018 earnings at ($1.19) EPS.

A number of other equities research analysts also recently commented on RIG. UBS AG restated a “neutral” rating and issued a $12.00 target price (down previously from $15.00) on shares of Transocean in a research report on Friday, May 5th. Seaport Global Securities restated a “sell” rating on shares of Transocean in a research report on Wednesday. Jefferies Group LLC restated a “hold” rating and issued a $9.50 target price (down previously from $11.50) on shares of Transocean in a research report on Tuesday, July 18th. Wells Fargo & Company restated a “market perform” rating on shares of Transocean in a research report on Saturday, July 22nd. Finally, Credit Suisse Group restated a “buy” rating on shares of Transocean in a research report on Wednesday, July 19th. Sixteen equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.86.

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Shares of Transocean (NYSE:RIG) opened at 8.69 on Friday. The firm has a 50-day moving average price of $8.40 and a 200-day moving average price of $11.35. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 5.23 and a beta of 1.67. Transocean has a 1-year low of $7.67 and a 1-year high of $16.66.

Transocean (NYSE:RIG) last released its earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Transocean had a return on equity of 2.57% and a net margin of 17.28%. The business had revenue of $785 million for the quarter, compared to analyst estimates of $737.51 million.

A number of institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its position in Transocean by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock valued at $200,000 after buying an additional 400 shares during the last quarter. State Treasurer State of Michigan increased its position in Transocean by 0.4% in the first quarter. State Treasurer State of Michigan now owns 127,848 shares of the offshore drilling services provider’s stock valued at $1,592,000 after buying an additional 500 shares during the last quarter. Teacher Retirement System of Texas increased its position in Transocean by 1.7% in the first quarter. Teacher Retirement System of Texas now owns 31,059 shares of the offshore drilling services provider’s stock valued at $387,000 after buying an additional 508 shares during the last quarter. Neuberger Berman Group LLC increased its position in Transocean by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 13,315 shares of the offshore drilling services provider’s stock valued at $166,000 after buying an additional 521 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in Transocean by 1.0% in the first quarter. Mason Street Advisors LLC now owns 53,796 shares of the offshore drilling services provider’s stock valued at $670,000 after buying an additional 542 shares during the last quarter. 67.53% of the stock is owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Transocean (NYSE:RIG)

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