Transocean (RIG) Scheduled to Post Earnings on Monday

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

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

Transocean Stock Performance

Shares of RIG opened at $5.87 on Friday. The business’s 50 day moving average is $5.71 and its two-hundred day moving average is $6.02. Transocean has a 52-week low of $4.45 and a 52-week high of $8.88. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -4.62 and a beta of 2.78. The company has a quick ratio of 1.22, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RIG. StockNews.com upgraded Transocean to a “sell” rating in a report on Tuesday, February 20th. 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. Citigroup lowered their price target on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Barclays lowered their price target on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Finally, Bank of America boosted their price target on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.22.

Transocean Company Profile

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.