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

Transocean Ltd. (NYSE:RIG) – Capital One Financial lowered their Q2 2024 earnings estimates for Transocean in a report issued on Tuesday, April 30th. Capital One Financial analyst D. Becker now forecasts that the offshore drilling services provider will earn ($0.04) per share for the quarter, down from their previous estimate 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.

RIG has been the topic of several other research reports. Bank of America raised their target price on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Benchmark reaffirmed a “buy” rating and issued a $8.00 target price on shares of Transocean in a report on Tuesday. Morgan Stanley cut their price objective on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Barclays cut their price objective on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Finally, StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.70.

Transocean Stock Up 3.9 %

Shares of NYSE:RIG opened at $5.58 on Friday. The firm’s 50 day moving average price is $5.76 and its 200 day moving average price is $5.95. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of -10.73 and a beta of 2.83. Transocean has a fifty-two week low of $4.45 and a fifty-two week high of $8.88. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 0.65.

Transocean (NYSE:RIG) last issued its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. The firm had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $781.86 million. Transocean had a negative net margin of 13.27% and a negative return on equity of 4.67%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) earnings per share.

Institutional Investors Weigh In On Transocean

A number of hedge funds and other institutional investors have recently bought and sold shares of RIG. OLD Point Trust & Financial Services N A acquired a new stake in Transocean in the fourth quarter valued at $25,000. VisionPoint Advisory Group LLC acquired a new position in shares of Transocean during the 4th quarter worth $28,000. Private Trust Co. NA raised its stake in shares of Transocean by 1,489.8% during the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after buying an additional 8,000 shares during the last quarter. Fermata Advisors LLC acquired a new position in shares of Transocean during the 1st quarter worth $75,000. Finally, First Western Trust Bank acquired a new position in shares of Transocean during the 4th quarter worth $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.