Transocean (RIG) is set to report earnings on Monday

Transocean (NYSE:RIG – Get Free Report) will report its earnings results after the market closes on Monday, April 29. Analysts expect the company to announce earnings of ($0.10) per share for the quarter. Investors wishing to register for the company’s conference call can do so via this link.

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

Transoceanic stock performance

Transocean shares opened at $5.67 on Monday. Transocean has a one-year low of $4.45 and a one-year high of $8.88. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -4.46 and a beta of 2.78. 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 company has a 50-day simple moving average of $5.64 and a 200-day simple moving average of $6.06.

Institutional investors are weighing in on Transocean

A number of institutional investors and hedge funds have recently increased or decreased their stakes in the company. Harbor Investments Inc. increased its holdings in shares of Transocean by 28,076.9% during the fourth quarter. Harbor Investments Inc. now owns 7,326 shares of the offshore drilling services provider worth $47,000, after purchasing an additional 7,300 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Transocean by 2.8% in the fourth quarter. Legal & General Group Plc now owns 638,605 shares of the offshore drilling services provider’s stock worth $4,055,000 after purchasing an additional 17,684 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Transocean by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock worth $435,306,000, after purchasing an additional 4,107,956 shares during the last quarter. Mountaineer Partners Management LLC increased its holdings in shares of Transocean by 1.3% during the fourth quarter. Mountaineer Partners Management LLC now owns 996,987 shares of the offshore drilling services provider’s stock worth $6,331,000 after purchasing an additional 12,938 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Transocean by 69.0% in the fourth quarter. Nuveen Asset Management LLC now owns 717,172 shares of the offshore drilling services provider’s stock worth $4,554,000 after purchasing an additional 292,819 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s shares.

Analyst upgrades and downgrades

A number of brokers have recently released reports on RIG. Citigroup lowered their price target on Transocean from $9.00 to $7.00 and set a “buy” rating on the company in a report on Wednesday, February 21. Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and raised their price target for the company from $5.50 to $9.00 in a report on Monday, April 8. Bank of America lifted their price target on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15. StockNews.com upgraded Transocean to a “sell” rating in a report on Tuesday, February 20. Finally, Barclays lowered their price target on Transocean from $7.00 to $6.00 and set an equalweight rating for the company in a report on Thursday, February 22. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Transocean has a consensus rating of “Hold” and a consensus price target of $8.22.

Check out our latest report on Transocean

Transocean Company Profile

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Transocean Ltd. together with its subsidiaries, provides offshore contract drilling services for oil and gas wells around the world. 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-deep water floats and heavy duty floats.

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