Transocean (RIG) Scheduled to Post Earnings on Monday

Transocean (NYSE:RIG) is set to issue its quarterly earnings data after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of ($0.10) per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Transocean (NYSE:RIG) last issued its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.12. The company had revenue of $741.00 million for the quarter, compared to analyst estimates of $779.17 million. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. During the same period in the prior year, the firm posted ($0.49) EPS. On average, analysts expect Transocean to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Transocean Stock Performance

Shares of NYSE RIG opened at $5.87 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.52. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -4.62 and a beta of 2.78. The business’s 50-day simple moving average is $5.71 and its 200-day simple moving average is $6.02. Transocean has a 52 week low of $4.45 and a 52 week high of $8.88.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RIG. Barclays lowered their price objective on Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, February 20th. Citigroup lowered their price objective on Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Bank of America increased their price objective on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Finally, Morgan Stanley decreased their target price 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 given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus price target of $8.22.

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.