Transocean (NYSE:RIG) announced its quarterly earnings data on Tuesday. The offshore drilling services provider reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03, Briefing.com reports. The firm had revenue of $629.00 million for the quarter, compared to analyst estimates of $619.66 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The business’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share.
Shares of Transocean (RIG) opened at $9.05 on Wednesday. Transocean has a one year low of $7.20 and a one year high of $14.33. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. The firm has a market cap of $4,164.81, a P/E ratio of 11.36 and a beta of 1.55.
Several research firms have commented on RIG. Piper Jaffray Companies set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a report on Thursday, February 15th. Susquehanna Bancshares set a $10.00 price target on shares of Transocean and gave the company a “hold” rating in a report on Friday, February 16th. Cowen set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a report on Thursday, January 11th. Jefferies Group raised shares of Transocean from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Thursday, January 4th. Finally, ValuEngine lowered shares of Transocean from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.08.
In other news, SVP David A. Tonnel sold 9,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total value of $84,510.00. Following the completion of the sale, the senior vice president now owns 75,349 shares of the company’s stock, valued at approximately $707,527.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.
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Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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