During the last session, Transocean Ltd. (NYSE:RIG)’s traded shares were 11.95 million, with the beta value of the company hitting 2.91. At the end of the trading day, the stock’s price was $6.29, reflecting an intraday loss of -2.78% or -$0.18. The 52-week high for the RIG share is $7.74, that puts it down -23.05 from that peak though still a striking 63.12% gain since the share price plummeted to a 52-week low of $2.32. The company’s market capitalization is $4.72B, and the average intraday trading volume over the past 10 days was 12.29 million shares, and the average trade volume was 18.24 million shares over the past three months.
Transocean Ltd. (RIG) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.70. RIG has a Sell rating from 2 analyst(s) out of 18 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 8 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.14.
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Transocean Ltd. (NYSE:RIG) trade information
Transocean Ltd. (RIG) registered a -2.78% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -2.78% in intraday trading to $6.29 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 8.45%, and it has moved by 9.39% in 30 days. Based on these gigs, the overall price performance for the year is 53.79%. The short interest in Transocean Ltd. (NYSE:RIG) is 137.48 million shares and it means that shorts have 8.98 day(s) to cover.
The consensus price target of analysts on Wall Street is $7.36, which implies an increase of 14.54% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5.00 and $12.00 respectively. As a result, RIG is trading at a discount of -90.78% off the target high and 20.51% off the low.
Transocean Ltd. (RIG) estimates and forecasts
Statistics show that Transocean Ltd. has underperformed its competitors in share price, compared to the industry in which it operates. Transocean Ltd. (RIG) shares have gone up 53.79% during the last six months, with a year-to-date growth rate less than the industry average at 50.54% against 55.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -40.00% this quarter and then drop -100.00% in the quarter after that. In the rating firms’ projections, revenue will increase 17.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $726.79 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $749.62 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $692 million and $670.37 million respectively. In this case, analysts expect current quarter sales to grow by 5.00% and then jump by 11.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 35.30%. While earnings are projected to return 4.40% in 2023.
Transocean Ltd. is due to release its next quarterly earnings on May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Transocean Ltd. (NYSE:RIG)’s Major holders
Transocean Ltd. insiders own 7.58% of total outstanding shares while institutional holders control 65.71%, with the float percentage being 71.10%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 477 institutions own stock in it. As of Mar 30, 2023, the company held over 65.94 million shares (or 8.60% of all shares), a total value of $419.36 million in shares.
The next largest institutional holding, with 46.32 million shares, is of Primecap Management Company’s that is approximately 6.04% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $294.61 million.
Also, the Mutual Funds coming in first place with the largest holdings of Transocean Ltd. (RIG) shares are Vanguard Total Stock Market Index Fund and VanEck ETF Trust-VanEck Oil Services ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 20.01 million shares. This amounts to just over 2.73 percent of the company’s overall shares, with a $91.26 million market value. The same data shows that the other fund manager holds slightly less at 17.41 million, or about 2.38% of the stock, which is worth about $110.7 million.