Zacks Research Forecasts Transocean's Q3 Earnings (NYSE:RIG)

Transocean Ltd. (NYSE:RIG - Free Report) - Analysts at Zacks Research reduced their Q3 2026 earnings estimates for shares of Transocean in a research note issued to investors on Monday, May 19th. Zacks Research analyst N. Choudhury now forecasts that the offshore drilling services provider will post earnings per share of $0.06 for the quarter, down from their previous estimate of $0.07. The consensus estimate for Transocean's current full-year earnings is $0.14 per share. Zacks Research also issued estimates for Transocean's Q1 2027 earnings at $0.04 EPS and FY2027 earnings at $0.19 EPS.

A number of other equities analysts have also commented on the stock. Citigroup cut their price objective on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Barclays reduced their price target on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research report on Monday, April 7th. SEB Equity Research set a $2.80 price target on shares of Transocean in a report on Wednesday, March 5th. BTIG Research set a $5.00 price objective on Transocean and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley reduced their target price on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $4.58.

Transocean Price Performance

NYSE RIG traded up $0.10 during trading hours on Wednesday, hitting $2.51. The company had a trading volume of 32,935,991 shares, compared to its average volume of 26,280,240. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -3.43, a PEG ratio of 0.86 and a beta of 2.52. Transocean has a 52 week low of $1.97 and a 52 week high of $6.25. The firm has a 50 day simple moving average of $2.55 and a 200 day simple moving average of $3.36.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The firm had revenue of $906.00 million during the quarter, compared to analyst estimates of $884.92 million. During the same period last year, the company earned ($0.03) earnings per share. The business's revenue for the quarter was up 18.7% on a year-over-year basis.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $2.78, for a total transaction of $61,160.00. Following the transaction, the executive vice president now owns 340,841 shares of the company's stock, valued at approximately $947,537.98. This trade represents a 6.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.27% of the company's stock.

Institutional Trading of Transocean

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in Transocean by 51.5% in the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock valued at $72,215,000 after purchasing an additional 6,542,271 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Transocean by 88.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider's stock worth $38,521,000 after buying an additional 5,719,637 shares during the period. Renaissance Technologies LLC bought a new stake in Transocean during the 4th quarter valued at $16,608,000. SIR Capital Management L.P. purchased a new stake in Transocean during the 4th quarter valued at $14,976,000. Finally, Van ECK Associates Corp grew its holdings in Transocean by 33.9% in the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock worth $57,727,000 after acquiring an additional 3,895,880 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. 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-deepwater floaters and harsh environment floaters.