Capital One Financial Analysts Cut Earnings Estimates for Transocean Ltd. (NYSE:RIG)

Transocean Ltd. (NYSE:RIG) – Equities research analysts at Capital One Financial cut their Q2 2024 earnings per share estimates for shares of Transocean in a report released on Tuesday, April 30th. Capital One Financial analyst D. Becker now anticipates that the offshore drilling services provider will earn ($0.04) per share for the quarter, down from their prior forecast of ($0.02). The consensus estimate for Transocean’s current full-year earnings is $0.05 per share. Capital One Financial also issued estimates for Transocean’s Q1 2025 earnings at $0.02 EPS, Q2 2025 earnings at $0.03 EPS and Q4 2025 earnings at $0.07 EPS.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $767.00 million during the quarter, compared to the consensus estimate of $781.86 million. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.38) EPS.

Several other research analysts have also recently issued reports on the company. Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and increased their price target for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Bank of America increased their price target on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Barclays decreased their price target on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley decreased their price target on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.70.

Transocean Trading Up 3.9 %

NYSE:RIG opened at $5.58 on Friday. Transocean has a 1 year low of $4.45 and a 1 year high of $8.88. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of -10.73 and a beta of 2.83. The business has a fifty day moving average of $5.76 and a 200-day moving average of $5.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.35.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RIG. Pekin Hardy Strauss Inc. increased its stake in Transocean by 949.5% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 126,006 shares of the offshore drilling services provider’s stock worth $1,035,000 after purchasing an additional 114,000 shares in the last quarter. Lisanti Capital Growth LLC raised its holdings in shares of Transocean by 299.9% during the third quarter. Lisanti Capital Growth LLC now owns 1,770,822 shares of the offshore drilling services provider’s stock valued at $14,538,000 after acquiring an additional 1,328,032 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Transocean by 180.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 32,535 shares of the offshore drilling services provider’s stock valued at $267,000 after acquiring an additional 20,935 shares in the last quarter. Hosking Partners LLP lifted its position in shares of Transocean by 342.7% in the 3rd quarter. Hosking Partners LLP now owns 1,112,543 shares of the offshore drilling services provider’s stock valued at $9,134,000 after acquiring an additional 861,209 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Transocean by 16.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock worth $118,000 after purchasing an additional 2,000 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

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.