In the last trading session, 11,263,125 shares of the Transocean Ltd.(NYSE:RIG) were traded, and its beta was 3.61. Most recently the company’s share price was $3.49, and it changed around $0.07 or 0.02% from the last close, which brings the market valuation of the company to $2.15 Billion. RIG currently trades at a discount to its 52-week high of $4.19, offering almost -20.06% off that amount. The share price’s 52-week low was $0.65, which indicates that the current value has risen by an impressive 81.38% since then. We note from Transocean Ltd.’s average daily trading volume that its 10-day average is 18.5 Million shares, with the 3-month average coming to 38.62 Million.
Transocean Ltd. stock received a consensus recommendation rating of Underweight, based on a mean score of 3.6. If we narrow it down even further, the data shows that 4 out of 15 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 10 recommended RIG as a Hold, whereas none deemed it a Buy, and 1 rated it as Underweight. Transocean Ltd. is expected to report earnings per share of -$0.19 for the current quarter.
Transocean Ltd. (NYSE:RIG): Trading Information
Instantly RIG has showed a green trend with a performance of 2.05% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $3.84- on Tuesday, Feb 16 increased the stock’s daily price by 9.11%. The company’s shares are currently up 0.51% year-to-date, but still up 0.0087 over the last five days. On the other hand, Transocean Ltd. (NYSE:RIG) is 0.08% up in the 30-day period. We can see from the shorts that 74.99 Million shares have been sold at a short interest cover period of 1.94 day(s).
The consensus price target as assigned by Wall Street analysts is $1.58, which translates to bears needing to reduce their stock price by -54.73% from its current value. Analyst projections state that RIG is forecast to be at a low of $0.4 and a high of $3.1. In order for the stock price to hit the forecast high, the stock would need to surge -11.17% from its current level, while the stock would need to crash -88.54% from its current level to reach the projected low.
Transocean Ltd. (RIG) projections and forecasts
Transocean Ltd. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +81.77 percent over the past six months and at a 64.14% annual growth rate that is well above the industry average of -2.8%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +55.8% in revenue this quarter, and will report an increase of 46.7% in the next quarter. The year-over-year growth rate is expected to be 1.7%, up from the previous year.
Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $699.08 Million in revenue for the current quarter. 9 analysts expect Transocean Ltd. to make $646.1 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $792Million and $759Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -11.7%. Forecasts for the next quarter put sales growth at -14.9%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 16.4%. Transocean Ltd. earnings are expected to increase by 49.7% in 2021, but the outlook is positive 4.8% per year for the next five years.
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Transocean Ltd. (NYSE:RIG)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 5.75% of Transocean Ltd. shares, and 48.88% of them are in the hands of institutional investors. The stock currently has a share float of 51.86%. Transocean Ltd. stock is held by 373 institutions, with Primecap Management Company being the largest institutional investor. By Dec 30, 2020, it held 7.89% of the shares, which is about 48.54 Million shares worth $112.13 Million.
Vanguard Group, Inc. (The), with 7.24% or 44.56 Million shares worth $35.95 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.