Transocean (NYSE:RIG) Announces Earnings Results, Misses Estimates By $0.11 EPS

Transocean (NYSE:RIG) posted its earnings results on Monday. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11), Zacks reports. Transocean had a negative net margin of 18.81% and a negative return on equity of 1.48%. The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million.

Transocean Trading Down 0.7 %

NYSE RIG traded down $0.03 during trading on Wednesday, reaching $3.53. 5,307,912 shares of the stock traded hands, compared to its average volume of 25,759,209. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean has a fifty-two week low of $3.38 and a fifty-two week high of $6.88. The stock’s 50-day moving average price is $3.82 and its 200 day moving average price is $4.23. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -4.69, a price-to-earnings-growth ratio of 0.85 and a beta of 2.70.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $4.05, for a total value of $89,100.00. Following the transaction, the executive vice president now owns 229,596 shares of the company’s stock, valued at approximately $929,863.80. The trade was a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 13.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD Cowen lowered their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Susquehanna lowered their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.94.

Transocean Company Profile

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.