Transocean Ltd (NYSE:RIG) has a beta value of 2.81 and has seen 24.44 million shares traded in the last trading session. The company, currently valued at $5.30B, closed the last trade at $6.55 per share which meant it gained $0.02 on the day or 0.31% during that session. The RIG stock price is -35.57% off its 52-week high price of $8.88 and 32.06% above the 52-week low of $4.45. If we look at the company’s 10-day average daily trading volume, we find that it stood at 18.96 million shares traded. The 3-month trading volume is 18.15 million shares.
Transocean Ltd (NYSE:RIG) trade information
Sporting 0.31% in the green in last session, the stock has traded in the green over the last five days, when the RIG stock price touched $6.55 or saw a rise of 4.8%. Year-to-date, Transocean Ltd shares have moved 3.15%, while the 5-day performance has seen it change 2.83%. Over the past 30 days, the shares of Transocean Ltd (NYSE:RIG) have changed 27.18%. Short interest in the company has seen 129.65 million shares shorted with days to cover at 6.53.
Transocean Ltd (RIG) estimates and forecasts
Figures show that Transocean Ltd shares have outperformed across the wider relevant industry. The company’s shares have lost -14.04% over the past 6 months, with this year growth rate of 109.38%, compared to -4.90% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 60.50% and 86.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 28.40%.
13 analysts offering their estimates for the company have set an average revenue estimate of $795.89 million for the current quarter. 13 have an estimated revenue figure of $888.87 million for the next quarter concluding in Jun 2024. Year-ago sales stood $649 million and $729 million respectively for this quarter and the next, and analysts expect sales will grow by 22.60% for the current quarter and 21.90% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 21.86% over the past 5 years.
RIG Dividends
Transocean Ltd is expected to release its next earnings report between May 01 and May 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Transocean Ltd (NYSE:RIG)’s Major holders
Insiders own 11.65% of the company shares, while shares held by institutions stand at 68.08% with a share float percentage of 77.06%. Investors are also buoyed by the number of investors in a company, with Transocean Ltd having a total of 547 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc with over 65.08 million shares worth more than $456.23 million. As of Jun 29, 2023, Vanguard Group Inc held 8.49% of shares outstanding.
The other major institutional holder is Primecap Management Company, with the holding of over 45.47 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $318.71 million and represent 5.93% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of Jun 29, 2023, the former fund manager holds about 2.81% shares in the company for having 21.58 million shares of worth $151.25 million while later fund manager owns 17.81 million shares of worth $124.84 million as of Jun 29, 2023, which makes it owner of about 2.32% of company’s outstanding stock.