Q1 Earnings Forecast for Transocean Issued By Zacks Research

Transocean Ltd. (NYSE:RIG) – Equities research analysts at Zacks Research increased their Q1 2028 earnings per share estimates for shares of Transocean in a report issued on Friday, October 23rd. Zacks Research analyst Team now expects that the offshore drilling services provider will earn $0.02 per share for the quarter, up from their previous estimate of $0.01. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Transocean’s current full-year earnings is $0.18 per share.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $956.64 million. During the same quarter last year, the firm posted ($1.06) EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis.

RIG has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Thursday, October 15th. Barclays lowered their price target on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Fearnley Fonds upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Susquehanna cut their price objective on shares of Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Transocean currently has a consensus rating of “Hold” and a consensus price target of $6.68.

Transocean Price Performance

NYSE RIG opened at $6.54 on Tuesday. The company has a market cap of $7.31 billion, a PE ratio of -3.48, a price-to-earnings-growth ratio of 4.69 and a beta of 1.41. Transocean has a 52 week low of $3.68 and a 52 week high of $7.66. The company has a quick ratio of 1.27, a current ratio of 1.59 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $5.69 and its two-hundred day simple moving average is $5.78.

Institutional Investors Weigh In On Transocean

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hartford Financial Management Inc. bought a new position in Transocean in the 3rd quarter valued at $31,000. Ascentis Independent Advisors purchased a new position in shares of Transocean during the 1st quarter valued at $43,000. EverSource Wealth Advisors LLC grew its position in shares of Transocean by 27.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock valued at $43,000 after purchasing an additional 1,391 shares in the last quarter. Root Financial Partners LLC increased its holdings in shares of Transocean by 192.6% in the first quarter. Root Financial Partners LLC now owns 7,787 shares of the offshore drilling services provider’s stock worth $52,000 after purchasing an additional 5,126 shares during the period. Finally, Wedbush Securities Inc. bought a new position in shares of Transocean in the third quarter worth $54,000. 67.73% of the stock is currently owned by institutional investors.

About Transocean

Transocean Ltd. is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company specializes in ultra-deepwater and harsh-environment drilling, helping customers explore for and develop offshore energy resources.

Transocean owns and operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs. Its services generally include contract drilling, rig operations, well-construction support, and related offshore drilling management.

With roots tracing back to the 1920s, Transocean serves customers in major offshore energy regions around the world.