Transocean Ltd. (NYSE:RIG – Free Report) – Stock analysts at Zacks Research increased their FY2026 earnings per share (EPS) estimates for shares of Transocean in a research report issued on Friday, October 23rd. Zacks Research analyst Team now expects that the offshore drilling services provider will earn $0.09 per share for the year, up from their prior forecast of $0.08. 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. Zacks Research also issued estimates for Transocean’s Q4 2026 earnings at $0.06 EPS, Q1 2027 earnings at $0.04 EPS, Q2 2027 earnings at $0.06 EPS, FY2027 earnings at $0.25 EPS, Q2 2028 earnings at $0.04 EPS, Q3 2028 earnings at $0.04 EPS and FY2028 earnings at $0.09 EPS.
A number of other analysts have also recently issued reports on RIG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Thursday, October 15th. Fearnley Fonds raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Susquehanna reduced their price target on shares of Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Finally, Barclays decreased their price objective on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.68.
Get Our Latest Research Report on RIG
Transocean Stock Performance
Transocean stock opened at $6.46 on Monday. The stock’s 50-day moving average is $5.70 and its 200-day moving average is $5.80. Transocean has a 12 month low of $3.68 and a 12 month high of $7.66.
Transocean (NYSE:RIG – Get Free Report) last issued its earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $966.00 million during the quarter, compared to analyst estimates of $956.64 million. Transocean’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.06) EPS.
Hedge Funds Weigh In On Transocean
Several hedge funds and other institutional investors have recently bought and sold shares of RIG. LaFleur & Godfrey LLC acquired a new position in shares of Transocean during the third quarter worth $64,000. Parametrica Management Ltd acquired a new stake in Transocean during the 3rd quarter valued at $90,000. Oppenheimer & Co. Inc. purchased a new stake in Transocean during the 3rd quarter worth $199,000. Royal Palms Capital LLC purchased a new stake in Transocean during the 3rd quarter worth $141,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in Transocean during the 3rd quarter worth $467,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Trending Headlines about Transocean
Here are the key news stories impacting Transocean this week:
- Positive Sentiment: Transocean’s reported $1.6 billion backlog is central to the bullish case because it provides future revenue visibility and could weaken short-seller arguments about demand and utilization. Investors will likely look for additional contract awards, backlog changes and management’s outlook on the November 2 earnings call. Will RIG’s $1.6B Backlog Surge Disarm Short Sellers on Nov. 2? Here’s What to Watch
- Positive Sentiment: Zacks expects Transocean to beat upcoming earnings estimates, citing factors that could support an upside surprise. The company previously exceeded quarterly EPS expectations, reporting $0.03 versus a $0.01 consensus estimate, while revenue also came in above forecasts. Transocean (RIG) Expected to Beat Earnings Estimates: Should You Buy?
- Positive Sentiment: Zacks Research raised its first-quarter 2028 EPS forecast to $0.02 from $0.01 and maintained a “Strong Buy” rating. The upward estimate revision signals improving expectations for Transocean’s longer-term earnings potential. Transocean analyst estimates
- Positive Sentiment: Momentum-focused coverage is attracting attention to RIG after its strong one-month advance, potentially supporting additional buying from growth and momentum investors. Why Transocean Is a Momentum Pick
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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