Zacks Research Predicts Transocean’s Q1 Earnings (NYSE:RIG)

Transocean Ltd. (NYSE:RIG) – Analysts at Zacks Research reduced their Q1 2028 earnings per share estimates for shares of Transocean in a research report issued to clients and investors on Friday, April 10th. Zacks Research analyst Team now expects that the offshore drilling services provider will earn ($0.04) per share for the quarter, down from their prior estimate of ($0.01). The consensus estimate for Transocean’s current full-year earnings is $0.14 per share. Zacks Research also issued estimates for Transocean’s FY2028 earnings at ($0.15) EPS.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Friday, February 20th. The offshore drilling services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Transocean had a positive return on equity of 0.41% and a negative net margin of 73.52%.Transocean’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share.

Several other research firms also recently issued reports on RIG. Susquehanna lifted their price target on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research report on Tuesday, April 7th. Barclays downgraded shares of Transocean from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $4.50 to $6.00 in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Thursday, January 22nd. Clarkson Capital downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Finally, Pareto Securities downgraded shares of Transocean from a “hold” rating to a “sell” rating and set a $5.25 price target for the company. in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $6.46.

Transocean Price Performance

Transocean stock opened at $6.18 on Tuesday. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of -1.96 and a beta of 1.37. Transocean has a 52-week low of $2.08 and a 52-week high of $7.14. The stock’s 50 day moving average price is $6.31 and its two-hundred day moving average price is $4.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.56.

Hedge Funds Weigh In On Transocean

Several large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its stake in Transocean by 604.3% during the 4th quarter. Hsbc Holdings PLC now owns 3,117,030 shares of the offshore drilling services provider’s stock valued at $12,920,000 after acquiring an additional 2,674,466 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Transocean by 19.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider’s stock valued at $101,000 after acquiring an additional 4,043 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Transocean by 207.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 33,504 shares of the offshore drilling services provider’s stock valued at $138,000 after acquiring an additional 22,613 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Transocean by 82.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 44,065 shares of the offshore drilling services provider’s stock valued at $182,000 after acquiring an additional 19,890 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Transocean during the 4th quarter valued at $43,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Transocean

In other Transocean news, CEO Keelan Adamson sold 58,687 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total transaction of $293,435.00. Following the transaction, the chief executive officer directly owned 1,222,182 shares in the company, valued at approximately $6,110,910. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Roderick James Mackenzie sold 78,370 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total value of $498,433.20. Following the transaction, the executive vice president owned 268,025 shares in the company, valued at approximately $1,704,639. This trade represents a 22.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 159,903 shares of company stock valued at $906,098. 9.70% of the stock is currently owned by insiders.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.