Transocean Ltd (NYSE: RIG) Stock Forecast 2024: Profitable With Bullish Signals

In the last trading session, 20.68 million shares of the Transocean Ltd (NYSE:RIG) were traded, and its beta was 2.79. Most recently the company’s share price was $5.81, and it changed around $0.14 or 2.47% from the last close, which brings the market valuation of the company to $4.76B. RIG currently trades at a discount to its 52-week high of $8.88, offering almost -52.84% off that amount. The share price’s 52-week low was $4.45, which indicates that the current value has risen by an impressive 23.41% since then. We note from Transocean Ltd’s average daily trading volume that its 3-month average coming to 18.54 million.

Transocean Ltd stock received a consensus recommendation rating of Hold, based on a mean score of 2.42. If we narrow it down even further, the data shows that 7 out of 36 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 14 recommended RIG as a Hold, whereas 12 deemed it a Buy, and 1 rated it as Underweight. Transocean Ltd is expected to report earnings per share of $Transocean Ltd (Switzerland) for the current quarter.

Transocean Ltd (NYSE:RIG) trade information

Instantly RIG has showed a green trend with a performance of 2.47% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -8.50% year-to-date, but still down -3.97% over the last five days. On the other hand, Transocean Ltd (NYSE:RIG) is -4.13% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $6.87, which translates to bulls needing to increase their stock price by 15.43% from its current value. Analyst projections state that RIG is forecast to be at a low of $3 and a high of $12.

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 -21.38 percent over the past six months and at a 102.08% annual growth rate that is well above the industry average of -6.30%.

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