Transocean Ltd (NYSE: RIG): How It Has Performed & Trended

In today’s recent session, 2.67 million shares of the Transocean Ltd (NYSE:RIG) have been traded, and its beta is 2.78. Most recently the company’s share price was $6.35, and it changed around $0.07 or 1.11% from the last close, which brings the market valuation of the company to $5.14B. RIG at last check was trading at a discount to its 52-week high of $8.88, offering almost -39.84% off that amount. The share price’s 52-week low was $4.45, which indicates that the recent value has risen by an impressive 29.92% since then. We note from Transocean Ltd’s average daily trading volume that its 10-day average is 17.11 million shares, with the 3-month average coming to 17.24 million.

Transocean Ltd stock received a consensus recommendation rating of Hold, based on a mean score of 2.50. If we narrow it down even further, the data shows that 2 out of 16 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 9 recommended RIG as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Transocean Ltd is expected to report earnings per share of -$0.15 for the current quarter.

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Transocean Ltd (NYSE:RIG) trade information

Instantly RIG has been showing a green trend so far today with a performance of 1.11% on intraday trading today. The performance over the last five days has remained in the green territory. On the other hand, Transocean Ltd (NYSE:RIG) is 35.39% up in the 30-day period. We can see from the shorts that 129.65 million shares have been sold at a short interest cover period of 6.53 day(s).

The consensus price target as assigned by Wall Street analysts is $4.3, which translates to bulls needing to decrease their stock price by -47.67% from its current value. Analyst projections state that RIG is forecast to be at a low of $3 and a high of $5.6.

Transocean Ltd (RIG) estimates 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 fallen -24.58 percent over the past six months and at a 109.38% annual growth rate that is well above the industry average of -4.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 60.50% in revenue this quarter, and will report an increase of 86.70% in the next quarter. The year-over-year growth rate is expected to be 28.40%, up from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $795.89 million in revenue for the current quarter. 13 analysts expect Transocean Ltd to make $888.87 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $649 million and $729 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 22.60%. Forecasts for the next quarter put sales growth at 21.90%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 21.86%.

RIG Dividends

Transocean Ltd’s next quarterly earnings report is expected to be released around May 01 and May 03.

Transocean Ltd (NYSE:RIG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 11.65% of Transocean Ltd shares, and 68.25% of them are in the hands of institutional investors. The stock currently has a share float of 77.25%. Transocean Ltd stock is held by 550 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 8.36% of the shares, which is about 68.55 million shares worth $437.36 million.

Primecap Management Company, with 6.19% or 50.7 million shares worth $323.46 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and New Economy Fund (The) were the top two Mutual Funds as of Dec 30, 2023. The former held 23.28 million shares worth $148.53 million, making up 2.84% of all outstanding shares. On the other hand, New Economy Fund (The) held roughly 19.47 million shares worth around $124.21 million, which represents about 2.38% of the total shares outstanding.