Shares of Transocean Ltd. (NYSE:RIG) have been given a consensus rating of "Hold" by the eighteen brokerages that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $2.06.
RIG has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a "sell" rating and set a $3.00 price target on shares of Transocean in a report on Friday, December 25th. Wells Fargo & Company downgraded Transocean from an "equal weight" rating to an "underweight" rating in a report on Monday, December 7th. Finally, Zacks Investment Research lowered Transocean from a "buy" rating to a "hold" rating and set a $2.00 price target on the stock. in a research note on Tuesday, December 1st.
NYSE:RIG opened at $3.46 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.75 and a current ratio of 2.05. Transocean has a fifty-two week low of $0.65 and a fifty-two week high of $4.19. The company has a 50 day simple moving average of $3.25 and a two-hundred day simple moving average of $1.91. The company has a market capitalization of $2.13 billion, a PE ratio of -3.39 and a beta of 3.75.
Transocean (NYSE:RIG) last posted its quarterly earnings data on Sunday, February 21st. The offshore drilling services provider reported ($0.34) EPS for the quarter, missing the Zacks' consensus estimate of ($0.19) by ($0.15). Transocean had a negative net margin of 17.85% and a negative return on equity of 4.55%. The firm had revenue of $690.00 million during the quarter, compared to the consensus estimate of $695.28 million. During the same period in the prior year, the company posted ($0.43) earnings per share. The company's revenue for the quarter was down 12.9% compared to the same quarter last year. Research analysts predict that Transocean will post -0.52 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Eqis Capital Management Inc. bought a new stake in Transocean during the 4th quarter valued at $26,000. Teacher Retirement System of Texas grew its holdings in shares of Transocean by 75.7% during the third quarter. Teacher Retirement System of Texas now owns 33,404 shares of the offshore drilling services provider's stock valued at $27,000 after buying an additional 14,391 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Transocean during the third quarter worth about $30,000. Nisa Investment Advisors LLC increased its position in shares of Transocean by 156.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 13,000 shares of the offshore drilling services provider's stock worth $30,000 after acquiring an additional 7,930 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Transocean by 201.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 50,307 shares of the offshore drilling services provider's stock worth $41,000 after acquiring an additional 33,607 shares during the last quarter. Institutional investors own 46.56% of the company's stock.
Transocean Company Profile
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its drilling rigs, related equipment, and work crews to drill oil and gas wells. As of October 27, 2020, the company owned or had partial ownership interests in and operated 38 mobile offshore drilling units, including 27 ultra-deepwater floaters and 11 harsh environment floaters.
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