Transocean (NYSE:RIG – Get Free Report) will likely be issuing its Q3 2026 results after the market closes on Monday, November 2nd. Analysts expect Transocean to announce earnings of $0.0223 per share and revenue of $943.99 million for the quarter. Parties can check the company’s upcoming Q3 2026 earnings report page for the latest details on the call scheduled for Tuesday, November 3, 2026 at 9:00 AM ET.
Transocean (NYSE:RIG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $966.00 million for the quarter, compared to analyst estimates of $956.64 million. During the same period last year, the company earned ($1.06) EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts expect Transocean to post $0.18 EPS for the current fiscal year and $0.29 EPS for the next fiscal year.
Transocean Price Performance
RIG opened at $6.41 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.27 and a current ratio of 1.59. Transocean has a 52-week low of $3.68 and a 52-week high of $7.66. The stock has a market capitalization of $7.16 billion, a PE ratio of -3.41, a price-to-earnings-growth ratio of 4.69 and a beta of 1.41. The stock’s 50 day moving average price is $5.68 and its 200-day moving average price is $5.80.
Key Headlines Impacting Transocean
Here are the key news stories impacting Transocean this week:
- Positive Sentiment: Zacks Research raised several earnings estimates, including forecasts for FY2026 EPS to $0.09 from $0.08, FY2027 EPS to $0.25 from $0.24, Q4 2026 EPS to $0.06 from $0.05, and FY2028 EPS to $0.09 from $0.08. Zacks retained its “Strong-Buy” rating, reinforcing a more constructive outlook for the offshore drilling services provider. Zacks Research earnings estimate revisions
- Positive Sentiment: Zacks also lifted its Q2 2027 EPS estimate to $0.06 from $0.05 and its Q2 2028 estimate to $0.04 from $0.03. Although these revisions concern future periods, they suggest improving expectations for Transocean’s earnings trajectory. Zacks Research quarterly earnings estimates
- Positive Sentiment: Transocean has scheduled a November 26 Bermuda court hearing related to its Valaris acquisition. The announcement marks another step toward completing the transaction, which could expand the company’s offshore drilling fleet and market presence if approved. Transocean Valaris acquisition court hearing
- Neutral Sentiment: Analysts tracked by American Banking News report a consensus price target of $6.68 for RIG. The target implies only modest potential upside relative to the stock’s recent trading level, suggesting that much of the near-term optimism may already be reflected in the price. Transocean consensus price target
- Negative Sentiment: Not all revisions were favorable: Zacks lowered its Q1 2027 EPS estimate to $0.04 from $0.05. This modest reduction highlights continuing uncertainty around the timing and pace of offshore drilling earnings improvement. Zacks Research Q1 2027 estimate revision
Analysts Set New Price Targets
RIG has been the subject of a number of research analyst reports. Barclays dropped their price target on Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Zacks Research raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Thursday, October 15th. Susquehanna decreased 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. Finally, Fearnley Fonds raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.68.
Read Our Latest Analysis on Transocean
Transocean Company Profile
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.
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