In the last trading session, 12.48 million Transocean Ltd (NYSE:RIG) shares changed hands as the company’s beta touched 2.77. With the company’s per share price at $6.12 changed hands at -$0.1 or -1.61% during last session, the market valuation stood at $4.95B. RIG’s last price was a discount, traded about -45.1% off its 52-week high of $8.88. The share price had its 52-week low at $4.45, which suggests the last value was 27.29% up since then. When we look at Transocean Ltd’s average trading volume, we note the 10-day average is 18.38 million shares, with the 3-month average coming to 17.14 million.
Transocean Ltd (NYSE:RIG) trade information
Instantly RIG was in red as seen at the end of in last trading. With action 1.32%, the performance over the past five days has been green. The drop to weekly highs of 6.36 subtracted -1.61% to the stock’s daily price. The company’s shares are showing year-to-date downside of -3.62%, with the 5-day performance at 1.32% in the green. However, in the 30-day time frame, Transocean Ltd (NYSE:RIG) is 28.84% up. Looking at the short shares, we see there were 127.93 million shares sold at short interest cover period of 7.04 days.
Transocean Ltd (RIG) estimates and forecasts
Data shows that the Transocean Ltd share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -26.97% over the past 6 months, a 109.38% in annual growth rate that is considerably higher than the industry average of -6.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Transocean Ltd will rise 60.50%, while the growth in revenue is estimated to hit 86.70% for the next quarter. Year-over-year growth is forecast to reach 28.40% up from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $795.89 million. 13 analysts are of the opinion that Transocean Ltd’s revenue for the quarter ending Jun 2024 will be $888.87 million. The company’s revenue for the corresponding quarters a year ago was $649 million and $729 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 22.60%. The estimates for the next quarter sales put growth at 21.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 21.86%. The 2024 estimates are for Transocean Ltd earnings to increase by 97.83%.
RIG Dividends
Transocean Ltd is expected to release its next quarterly earnings report between May 01 and May 03.
Transocean Ltd (NYSE:RIG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.65% of Transocean Ltd shares while 68.02% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.99%. There are 68.02% institutions holding the Transocean Ltd stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.49% of the shares, roughly 65.08 million RIG shares worth $456.23 million.
Primecap Management Company holds the second largest percentage of outstanding shares, with 5.93% or 45.47 million shares worth $318.71 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 21.58 million shares estimated at $151.25 million under it, the former controlled 2.81% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.32% of the shares, roughly 17.81 million shares worth around $124.84 million.
