-$0.16 Earnings Per Share Expected for Transocean Ltd. (NYSE:RIG) This Quarter

Wall Street brokerages expect Transocean Ltd. (NYSE:RIG) to post ($0.16) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Transocean’s earnings, with the lowest EPS estimate coming in at ($0.24) and the highest estimate coming in at ($0.08). Transocean posted earnings per share of ($0.11) in the same quarter last year, which would suggest a negative year-over-year growth rate of 45.5%. The firm is expected to issue its next quarterly earnings report after the market closes on Monday, November 1st.

According to Zacks, analysts expect that Transocean will report full-year earnings of ($0.66) per share for the current year, with EPS estimates ranging from ($0.82) to ($0.51). For the next year, analysts expect that the firm will post earnings of ($0.64) per share, with EPS estimates ranging from ($1.10) to ($0.52). Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Transocean.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, August 2nd. The offshore drilling services provider reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.03). The company had revenue of $713.00 million during the quarter, compared to analyst estimates of $683.33 million. Transocean had a net margin of 4.33% and a negative return on equity of 4.43%. The company’s quarterly revenue was down 27.5% compared to the same quarter last year.

Separately, Morgan Stanley raised their price objective on shares of Transocean from $3.50 to $4.00 and gave the stock an “equal weight” rating in a research report on Friday, July 9th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.00.

Shares of Transocean stock traded down $0.12 on Friday, hitting $3.86. The stock had a trading volume of 140,238 shares, compared to its average volume of 23,426,125. The firm has a market capitalization of $2.51 billion, a P/E ratio of 32.33 and a beta of 3.65. The stock has a 50 day moving average of $3.57 and a 200 day moving average of $3.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.66 and a current ratio of 1.98. Transocean has a twelve month low of $0.65 and a twelve month high of $5.13.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in Transocean by 145.0% during the 2nd quarter. Van ECK Associates Corp now owns 33,186,410 shares of the offshore drilling services provider’s stock valued at $150,003,000 after buying an additional 19,639,323 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Transocean by 155.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,955,148 shares of the offshore drilling services provider’s stock valued at $67,601,000 after acquiring an additional 9,107,350 shares during the last quarter. Morgan Stanley lifted its position in Transocean by 175.3% in the 2nd quarter. Morgan Stanley now owns 7,843,462 shares of the offshore drilling services provider’s stock worth $35,452,000 after buying an additional 4,994,272 shares during the last quarter. Ergoteles LLC bought a new stake in Transocean in the 2nd quarter worth approximately $11,481,000. Finally, Brandywine Global Investment Management LLC bought a new stake in Transocean in the 1st quarter worth approximately $7,864,000. Institutional investors own 51.45% of the company’s stock.

Transocean Company Profile

Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleet such as ultra-deepwater, harsh-environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.

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Earnings History and Estimates for Transocean (NYSE:RIG)

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