$685.72 Million in Sales Expected for Transocean Ltd. (NYSE:RIG) This Quarter

Analysts forecast that Transocean Ltd. (NYSE:RIGGet Rating) will announce sales of $685.72 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Transocean’s earnings, with the highest sales estimate coming in at $696.27 million and the lowest estimate coming in at $676.90 million. Transocean posted sales of $656.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.5%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Transocean will report full-year sales of $2.71 billion for the current financial year, with estimates ranging from $2.65 billion to $2.74 billion. For the next year, analysts anticipate that the firm will report sales of $2.91 billion, with estimates ranging from $2.78 billion to $3.09 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Transocean.

Transocean (NYSE:RIGGet Rating) last released its quarterly earnings data on Monday, May 2nd. The offshore drilling services provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $615.00 million during the quarter, compared to analyst estimates of $605.13 million. Transocean had a negative return on equity of 4.81% and a negative net margin of 26.84%. During the same quarter in the previous year, the company earned ($0.19) EPS.

A number of analysts have recently weighed in on the stock. Pareto Securities upgraded shares of Transocean from a “sell” rating to a “hold” rating and set a $5.00 price objective on the stock in a research note on Thursday, March 24th. Piper Sandler raised their price target on shares of Transocean from $3.00 to $3.85 and gave the company a “neutral” rating in a research report on Monday, April 18th. Capital One Financial restated an “equal weight” rating on shares of Transocean in a research report on Wednesday, February 23rd. Finally, StockNews.com lowered shares of Transocean from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Transocean currently has a consensus rating of “Hold” and an average target price of $4.21.

In related news, Director Frederik Wilhelm Mohn acquired 2,000,000 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were acquired at an average cost of $3.75 per share, with a total value of $7,500,000.00. Following the completion of the acquisition, the director now directly owns 82,636,646 shares in the company, valued at approximately $309,887,422.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Keelan Adamson sold 349,418 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $5.00, for a total transaction of $1,747,090.00. The disclosure for this sale can be found here. Company insiders own 12.29% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Cetera Investment Advisers raised its stake 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 worth $80,000 after purchasing an additional 2,887 shares during the period. Rafferty Asset Management LLC raised its stake in Transocean by 11.7% during the fourth quarter. Rafferty Asset Management LLC now owns 28,024 shares of the offshore drilling services provider’s stock worth $77,000 after purchasing an additional 2,940 shares during the period. Nwam LLC raised its stake in Transocean by 14.9% during the fourth quarter. Nwam LLC now owns 23,047 shares of the offshore drilling services provider’s stock worth $64,000 after purchasing an additional 2,983 shares during the period. FinTrust Capital Advisors LLC raised its stake in Transocean by 50.0% during the third quarter. FinTrust Capital Advisors LLC now owns 9,000 shares of the offshore drilling services provider’s stock worth $34,000 after purchasing an additional 3,000 shares during the period. Finally, Tradewinds Capital Management LLC raised its stake in Transocean by 25.2% during the fourth quarter. Tradewinds Capital Management LLC now owns 14,905 shares of the offshore drilling services provider’s stock worth $41,000 after purchasing an additional 3,000 shares during the period. 47.88% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:RIG opened at $4.21 on Friday. The firm has a market capitalization of $2.87 billion, a P/E ratio of -4.09 and a beta of 2.99. Transocean has a 1-year low of $2.63 and a 1-year high of $5.56. The company’s fifty day moving average price is $4.18 and its 200-day moving average price is $3.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.40.

About Transocean (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.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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