Q2 Earnings Forecast for Transocean Issued By Zacks Research

Key Points

• Zacks Research lowered Transocean’s Q2 2026 EPS forecast to $0.00 from $0.01, while projecting $0.06 EPS for fiscal 2026 and $0.22 for fiscal 2027.
• Analyst sentiment remains mixed, with three Buy, five Hold, and three Sell ratings; the stock carries a consensus Hold rating and an average price target of $6.82.
• Transocean’s latest quarter showed revenue growth of 19.3% year over year to $1.08 billion, but the company posted a $0.03-per-share loss versus expectations for $0.07 EPS. Director Chad C. Deaton also purchased 35,000 shares in July.

Transocean Ltd. (NYSE:RIG - Free Report) - Zacks Research cut their Q2 2026 earnings per share estimates for Transocean in a report issued on Thursday, July 30th. Zacks Research analyst Team now forecasts that the offshore drilling services provider will post earnings of $0.00 per share for the quarter, down from their prior forecast of $0.01. The consensus estimate for Transocean's current full-year earnings is $0.13 per share. Zacks Research also issued estimates for Transocean's Q4 2026 earnings at $0.05 EPS, FY2026 earnings at $0.06 EPS, Q4 2027 earnings at $0.07 EPS, FY2027 earnings at $0.22 EPS and Q1 2028 earnings at $0.01 EPS.

A number of other brokerages also recently issued reports on RIG. Morgan Stanley increased their price target on shares of Transocean from $5.00 to $7.00 and gave the company an "equal weight" rating in a report on Wednesday, April 15th. TD Cowen upped 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. Barclays raised shares of Transocean from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $6.00 to $8.00 in a report on Thursday, May 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Transocean in a research report on Friday, July 17th. Finally, Susquehanna decreased their price target on Transocean from $8.00 to $7.00 and set a "positive" rating on the stock in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $6.82.

Transocean Price Performance

Shares of NYSE RIG opened at $5.08 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. Transocean has a one year low of $2.72 and a one year high of $7.66. The firm has a market capitalization of $5.67 billion, a P/E ratio of -1.70, a PEG ratio of 3.44 and a beta of 1.30. The company's fifty day moving average is $5.53 and its two-hundred day moving average is $5.87.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company earned ($0.10) EPS. The company's revenue was up 19.3% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Transocean by 27.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider's stock worth $43,000 after acquiring an additional 1,391 shares during the last quarter. Fruth Investment Management boosted its stake in shares of Transocean by 2.8% during the fourth quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider's stock valued at $373,000 after acquiring an additional 2,500 shares during the last quarter. Annandale Capital LLC increased its position in Transocean by 17.7% during the 4th quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider's stock worth $69,000 after purchasing an additional 2,500 shares in the last quarter. Townsend & Associates Inc raised its stake in Transocean by 16.0% in the 4th quarter. Townsend & Associates Inc now owns 29,000 shares of the offshore drilling services provider's stock valued at $126,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Transocean by 20.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider's stock valued at $75,000 after purchasing an additional 4,026 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Transocean news, Director Chad C. Deaton acquired 35,000 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were acquired at an average cost of $4.95 per share, for a total transaction of $173,250.00. Following the transaction, the director directly owned 237,421 shares of the company's stock, valued at approximately $1,175,233.95. This represents a 17.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.70% of the stock is owned by company insiders.

Transocean Company Profile

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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