Transocean (NYSE:RIG) Posts Earnings Results, Beats Expectations By $0.10 EPS

Transocean (NYSE:RIG) released its quarterly earnings results on Monday. The offshore drilling services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.10, RTT News reports. The firm had revenue of $767.00 million for the quarter, compared to analyst estimates of $781.86 million. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.38) EPS.

Transocean Stock Down 1.0 %

Transocean stock opened at $5.81 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. Transocean has a 52-week low of $4.45 and a 52-week high of $8.88. The company’s 50 day moving average is $5.73 and its two-hundred day moving average is $5.98.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RIG shares. Bank of America lifted their target price on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday, February 20th. Barclays dropped their price target on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Morgan Stanley decreased 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. Finally, Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and lifted their target price for the company from $5.50 to $9.00 in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.22.

About Transocean

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.