Update from Transocean Ltd (RIG): A steady trajectory

After finishing at $6.55 in the prior trading day, Transocean Ltd (NYSE: RIG) closed at $6.38, down -2.60%. In other words, the price has decreased by -$0.17 from its previous closing price. On the day, 26052324 shares were traded. RIG stock price reached its highest trading level at $6.65 during the session, while it also had its lowest trading level at $6.33.

Ratios:

Our goal is to gain a better understanding of RIG by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.22 and its Current Ratio is at 1.52. In the meantime, Its Debt-to-Equity ratio is 0.75 whereas as Long-Term Debt/Eq ratio is at 0.71.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Susquehanna on April 08, 2024, Upgraded its rating to Positive and sets its target price to $9 from $5.50 previously.

On November 28, 2023, CapitalOne started tracking the stock assigning a Equal Weight rating and target price of $8.

Citigroup Upgraded its Neutral to Buy on July 05, 2023, whereas the target price for the stock was revised from $6.50 to $9.50.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Feb 27 ’24 when Mohn Frederik Wilhelm bought 1,000,000 shares for $4.89 per share. The transaction valued at 4,890,000 led to the insider holds 85,574,894 shares of the business.

Perestroika (Cyprus) Ltd bought 1,000,000 shares of RIG for $4,890,000 on Feb 27 ’24. The Director now owns 85,574,894 shares after completing the transaction at $4.89 per share. On Aug 31 ’23, another insider, Tonnel David A, who serves as the SVP – CHIEF ACCOUNTING OFFICER of the company, sold 57,259 shares for $8.22 each. As a result, the insider received 470,669 and left with 417,789 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RIG now has a Market Capitalization of 5.23B and an Enterprise Value of 12.32B. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.82 while its Price-to-Book (P/B) ratio in mrq is 0.50. Its current Enterprise Value per Revenue stands at 4.35 whereas that against EBITDA is 24.59.

Stock Price History:

Over the past 52 weeks, RIG has reached a high of $8.88, while it has fallen to a 52-week low of $4.45. The 50-Day Moving Average of the stock is 5.52, while the 200-Day Moving Average is calculated to be 6.76.

Shares Statistics:

The stock has traded on average 18.23M shares per day over the past 3-months and 19.84M shares per day over the last 10 days, according to various share statistics. A total of 809.03M shares are outstanding, with a floating share count of 711.90M. Insiders hold about 12.01% of the company’s shares, while institutions hold 68.59% stake in the company. Shares short for RIG as of Mar 28, 2024 were 132.24M with a Short Ratio of 7.11, compared to 127.93M on Feb 29, 2024. Therefore, it implies a Short% of Shares Outstanding of 16.13% and a Short% of Float of 18.30%.

Earnings Estimates

Its stock is currently analyzed by 13 different market analysts. On average, analysts expect EPS of -$0.14 for the current quarter, with a high estimate of -$0.06 and a low estimate of -$0.21, while EPS last year was -$0.38. The consensus estimate for the next quarter is -$0.03, with high estimates of $0.07 and low estimates of -$0.11.

Analysts are recommending an EPS of between $0.24 and -$0.25 for the fiscal current year, implying an average EPS of -$0.04. EPS for the following year is $0.48, with 14 analysts recommending between $0.97 and $0.25.

Revenue Estimates

13 analysts predict $795.89M in revenue for the current quarter. It ranges from a high estimate of $898.9M to a low estimate of $745M. As of the current estimate, Transocean Ltd’s year-ago sales were $649M, an estimated increase of 22.60% from the year-ago figure. For the next quarter, 13 analysts are estimating revenue of $888.87M, an increase of 21.90% less than the figure of $22.60% in the same quarter last year. There is a high estimate of $942.3M for the next quarter, whereas the lowest estimate is $820M.

A total of 16 analysts have provided revenue estimates for RIG’s current fiscal year. The highest revenue estimate was $3.8B, while the lowest revenue estimate was $3.44B, resulting in an average revenue estimate of $3.64B. In the same quarter a year ago, actual revenue was $2.83B, up 28.40% from the average estimate. Based on 16 analysts’ estimates, the company’s revenue will be $4.04B in the next fiscal year. The high estimate is $4.23B and the low estimate is $3.72B. The average revenue growth estimate for next year is up 11.00% from the average revenue estimate for this year.

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