In today’s recent session, 6.53 million shares of the Transocean Ltd. (NYSE:RIG) have been traded, and its beta is 2.80. Most recently the company’s share price was $3.56, and it changed around -$0.15 or -4.04% from the last close, which brings the market valuation of the company to $2.60B. RIG at last check was trading at a discount to its 52-week high of $5.56, offering almost -56.18% off that amount. The share price’s 52-week low was $2.63, which indicates that the recent value has risen by an impressive 26.12% since then. We note from Transocean Ltd.’s average daily trading volume that its 3-month average coming to 19.02 million.
Transocean Ltd. (NYSE:RIG) trade information
Instantly RIG has been showing red trend so far today with a performance of -4.04% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.02 on Tuesday, 06/21/22 increased the stock’s daily price by 11.44%. The company’s shares are currently up 34.42% year-to-date, but still down -8.62% over the last five days. On the other hand, Transocean Ltd. (NYSE:RIG) is -7.02% down in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $4.30, which translates to bulls needing to increase their stock price by 17.21% from its current value. Analyst projections state that RIG is forecast to be at a low of $3.50 and a high of $6.00. In order for the stock price to hit the forecast high, the stock would need to plunge -68.54% from its current level, while the stock would need to crash 1.69% from its current level to reach the projected low.
Transocean Ltd. (RIG) estimates and forecasts
Transocean Ltd. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 27.49 percent over the past six months and at a 28.38% annual growth rate that is well below the industry average of 48.20%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 27.80% in revenue this quarter, and will report an increase of 31.60% in the next quarter. The year-over-year growth rate is expected to be 3.80%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $686.15 million in revenue for the current quarter. 6 analysts expect Transocean Ltd. to make $679.23 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $656 million and $626 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 4.60%. Forecasts for the next quarter put sales growth at 8.50%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -19.60%.
Transocean Ltd.’s next quarterly earnings report is expected to be released around May 02 and May 06.
Transocean Ltd. (NYSE:RIG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 7.39% of Transocean Ltd. shares, and 54.32% of them are in the hands of institutional investors. The stock currently has a share float of 58.66%. Transocean Ltd. stock is held by 418 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2021, it held 7.58% of the shares, which is about 51.6 million shares worth $142.41 million.
Primecap Management Company, with 6.96% or 47.39 million shares worth $216.59 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
VanEck ETF Trust-VanEck Oil Services ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2022. The former held 33.04 million shares worth $116.95 million, making up 4.85% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 15.7 million shares worth around $43.34 million, which represents about 2.31% of the total shares outstanding.