In the latest trading session, 2.62 million Transocean Ltd (NYSE:RIG) shares changed hands as the company’s beta touched 2.85. With the company’s most recent per share price at $6.36 changed hands at -$0.04 or -0.70% at last look, the market valuation stands at $5.14B. RIG’s current price is a discount, trading about -39.62% off its 52-week high of $8.88. The share price had its 52-week low at $3.65, which suggests the last value was 42.61% up since then. When we look at Transocean Ltd’s average trading volume, we note the 10-day average is 15.08 million shares, with the 3-month average coming to 14.85 million.
Analysts gave the Transocean Ltd (RIG) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.47. If we narrow down to specifics, the data shows that 2 out of 17 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 recommended RIG as a Hold, 7 felt it is a Buy and 1 rated the stock as Underweight. Transocean Ltd’s EPS for the current quarter is expected to be -$0.24.
Transocean Ltd (NYSE:RIG) trade information
Instantly RIG was in red as seen in intraday trades today. With action -4.29%, the performance over the past five days has been red. The drop to weekly highs of 6.70 on Monday, 11/20/23 subtracted -0.70% to the stock’s daily price. The company’s shares are showing year-to-date upside of 39.36%, with the 5-day performance at -4.29% in the red. However, in the 30-day time frame, Transocean Ltd (NYSE:RIG) is -10.49% down. Looking at the short shares, we see there were 116.09 million shares sold at short interest cover period of 7.74 days.
The consensus price target for the stock as assigned by Wall Street analysts is $8.75, meaning bulls need an upside of 27.31% from its recent market value. According to analyst projections, RIG’s forecast low is $6.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -88.68% plunge from its current level, while the stock would need to tank 5.66% for it to hit the projected low.
Transocean Ltd (RIG) estimates and forecasts
Data shows that the Transocean Ltd share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 1.52% over the past 6 months, a -5.38% in annual growth rate that is considerably lower than the industry average of 15.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Transocean Ltd will rise 51.00%, while the growth in revenue is estimated to hit 84.20% for the next quarter. Year-over-year growth is forecast to reach 12.70% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $760.87 million. 5 analysts are of the opinion that Transocean Ltd’s revenue for the quarter ending Mar 2024 will be $882.02 million. The company’s revenue for the corresponding quarters a year ago was $606 million and $649 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 25.60%. The estimates for the next quarter sales put growth at 35.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 35.57%. The 2023 estimates are for Transocean Ltd earnings to decrease by -1.31%.