Q3 Earnings Estimate for Transocean Issued By Zacks Research

Key Points

• Zacks Research lowered Transocean’s Q3 2026 EPS estimate to $0.02 from $0.03, while forecasting $0.24 EPS for fiscal 2027 and $0.08 for fiscal 2028.
• Transocean recently reported Q2 EPS of $0.03, beating the $0.01 consensus, with revenue of $966 million above estimates but down 2.2% year over year.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $6.68 price target; shares recently opened at $5.75.

Transocean Ltd. (NYSE:RIG - Free Report) - Research analysts at Zacks Research dropped their Q3 2026 earnings estimates for Transocean in a report issued on Wednesday, August 26th. Zacks Research analyst Team now expects that the offshore drilling services provider will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.03. The consensus estimate for Transocean's current full-year earnings is $0.17 per share. Zacks Research also issued estimates for Transocean's Q2 2027 earnings at $0.05 EPS, Q3 2027 earnings at $0.08 EPS, FY2027 earnings at $0.24 EPS, Q2 2028 earnings at $0.03 EPS and FY2028 earnings at $0.08 EPS.

Transocean (NYSE:RIG - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%.The company had revenue of $966.00 million for the quarter, compared to the consensus estimate of $956.64 million. During the same period in the previous year, the business earned ($1.06) earnings per share. The company's quarterly revenue was down 2.2% on a year-over-year basis.

Several other research analysts have also issued reports on RIG. Barclays dropped their price objective on Transocean from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Transocean in a report on Friday, July 17th. TD Cowen increased their target price on shares of Transocean from $5.50 to $6.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th. Fearnley Fonds raised shares of Transocean from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Finally, Susquehanna dropped their price target on Transocean from $8.00 to $7.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Transocean presently has an average rating of "Hold" and a consensus price target of $6.68.

Transocean Price Performance

Transocean stock opened at $5.75 on Friday. The business has a 50 day simple moving average of $5.34 and a 200 day simple moving average of $6.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.59 and a quick ratio of 1.27. The company has a market capitalization of $6.43 billion, a PE ratio of -3.06, a price-to-earnings-growth ratio of 4.49 and a beta of 1.32. Transocean has a one year low of $2.93 and a one year high of $7.66.

Hedge Funds Weigh In On Transocean

Large investors have recently bought and sold shares of the business. Elliott Investment Management L.P. acquired a new stake in Transocean during the 1st quarter worth $103,606,000. Zimmer Partners LP bought a new position in shares of Transocean in the 3rd quarter worth $30,262,000. Assenagon Asset Management S.A. bought a new position in shares of Transocean in the 2nd quarter worth $37,477,000. Barclays PLC grew its stake in shares of Transocean by 230.6% during the fourth quarter. Barclays PLC now owns 10,802,664 shares of the offshore drilling services provider's stock worth $44,615,000 after purchasing an additional 7,535,041 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Transocean by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 43,470,312 shares of the offshore drilling services provider's stock valued at $179,531,000 after purchasing an additional 7,516,589 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Transocean

In other news, Director Chad C. Deaton acquired 35,000 shares of the company's stock in a transaction on Thursday, July 2nd. The stock was purchased at an average cost of $4.95 per share, with a total value of $173,250.00. Following the acquisition, the director owned 237,421 shares of the company's stock, valued at $1,175,233.95. This trade represents a 17.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.70% of the stock is currently owned by corporate insiders.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean's fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company's core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.

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