Transocean (NYSE:RIG) posted its quarterly earnings results on Sunday. The offshore drilling services provider reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.01), MarketWatch Earnings reports. The firm had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $653.71 million. Transocean had a negative net margin of 17.85% and a negative return on equity of 4.55%. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) EPS.
NYSE RIG traded down $0.01 during trading hours on Tuesday, reaching $3.33. The company’s stock had a trading volume of 361,383 shares, compared to its average volume of 26,562,463. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -3.27 and a beta of 3.75. Transocean has a 1-year low of $0.65 and a 1-year high of $4.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.75. The company’s 50-day moving average is $3.47 and its two-hundred day moving average is $2.72.
Several analysts have weighed in on RIG shares. Barclays reiterated an “underweight” rating and set a $2.00 price target (up previously from $1.00) on shares of Transocean in a research note on Thursday, March 11th. Morgan Stanley boosted their price objective on Transocean from $2.50 to $3.50 and gave the company an “equal weight” rating in a report on Monday, April 19th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $2.40.
Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleet such as ultra-deepwater, harsh-environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.
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