Transocean (RIG) Scheduled to Post Earnings on Monday

Transocean (NYSE:RIGGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, May 2nd. Analysts expect the company to announce earnings of ($0.22) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Transocean (NYSE:RIGGet Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The offshore drilling services provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). Transocean had a negative return on equity of 4.20% and a negative net margin of 23.16%. The business had revenue of $621.00 million for the quarter, compared to analyst estimates of $658.84 million. During the same quarter last year, the firm earned ($0.34) earnings per share. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. On average, analysts expect Transocean to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of RIG stock opened at $4.00 on Monday. Transocean has a 12 month low of $2.63 and a 12 month high of $5.56. The firm has a market cap of $2.72 billion, a PE ratio of -4.30 and a beta of 3.08. The stock has a 50 day moving average of $4.25 and a 200-day moving average of $3.68. The company has a quick ratio of 1.57, a current ratio of 1.88 and a debt-to-equity ratio of 0.59.

RIG has been the subject of a number of research analyst reports. Capital One Financial reiterated an “equal weight” rating on shares of Transocean in a report on Wednesday, February 23rd. upgraded Transocean from a “sell” rating to a “hold” rating in a research note on Thursday, April 7th. Piper Sandler upped their target price on Transocean from $3.00 to $3.85 and gave the company a “neutral” rating in a research note on Monday, April 18th. Finally, Pareto Securities upgraded Transocean from a “sell” rating to a “hold” rating and set a $5.00 target price for the company in a research note on Thursday, March 24th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.98.

In other news, COO Keelan Adamson sold 349,418 shares of Transocean stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $5.00, for a total transaction of $1,747,090.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.29% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Captrust Financial Advisors grew its position in shares of Transocean by 154.4% during the 3rd quarter. Captrust Financial Advisors now owns 6,800 shares of the offshore drilling services provider’s stock worth $26,000 after buying an additional 4,127 shares during the period. Forum Financial Management LP acquired a new position in Transocean during the fourth quarter valued at approximately $41,000. Benchmark Investment Advisors LLC acquired a new position in Transocean during the fourth quarter valued at approximately $41,000. Alliancebernstein L.P. acquired a new position in Transocean during the fourth quarter valued at approximately $46,000. Finally, Cetera Investment Advisers grew its holdings in Transocean by 11.0% during the fourth quarter. Cetera Investment Advisers now owns 29,128 shares of the offshore drilling services provider’s stock valued at $80,000 after purchasing an additional 2,887 shares during the period. Institutional investors own 49.64% of the company’s stock.

Transocean Company Profile (Get Rating)

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters.

See Also

Earnings History for Transocean (NYSE:RIG)

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