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

Transocean (NYSE:RIG - Get Free Report) announced its quarterly 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 return on equity of 0.52% and a negative net margin of 14.53%. The firm had revenue of $952.00 million during the quarter, compared to analysts' expectations of $962.28 million.

Transocean Price Performance

NYSE RIG traded down $0.20 on Friday, reaching $3.37. 39,071,793 shares of the company's stock traded hands, compared to its average volume of 27,131,292. Transocean has a 12 month low of $3.35 and a 12 month high of $6.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The stock has a 50-day simple moving average of $3.79 and a 200 day simple moving average of $4.20. The stock has a market cap of $2.96 billion, a PE ratio of -4.61, a P/E/G ratio of 0.86 and a beta of 2.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen lowered their price target on shares of Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised shares of Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Benchmark reissued a "hold" rating on shares of Transocean in a report on Tuesday, December 3rd. StockNews.com raised shares of Transocean to a "sell" rating in a research note on Tuesday, November 12th. Finally, 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Transocean presently has an average rating of "Hold" and a consensus target price of $5.81.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the transaction, the executive vice president now directly owns 229,596 shares in the company, valued at $929,863.80. This trade represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.16% of the company's stock.

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.