Transocean Ltd (NYSE:RIG) has a beta value of 2.79 and has seen 21.19 million shares traded in the last trading session. The company, currently valued at $3.50B, closed the last trade at $4.00 per share which meant it lost -$0.24 on the day or -5.66% during that session. The RIG stock price is -92.75% off its 52-week high price of $7.71 and 3.75% above the 52-week low of $3.85. If we look at the company’s 10-day average daily trading volume, we find that it stood at 17.26 million shares traded. The 3-month trading volume is 19.23 million shares.
The consensus among analysts is that Transocean Ltd (RIG) is Buy stock at the moment, with a recommendation rating of 2.53. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 15 have rated it as a Hold, with 12 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.04.
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Transocean Ltd (NYSE:RIG) trade information
Sporting -5.66% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the RIG stock price touched $4.00 or saw a rise of 8.47%. Year-to-date, Transocean Ltd shares have moved -37.01%, while the 5-day performance has seen it change -7.62%. Over the past 30 days, the shares of Transocean Ltd (NYSE:RIG) have changed -9.91%. Short interest in the company has seen 159.76 million shares shorted with days to cover at 6.94.
Wall Street analysts have a consensus price target for the stock at $5.5, which means that the shares’ value could jump 27.27% from current levels. The projected low price target is $3.0 while the price target rests at a high of $12.0. In that case, then, we find that the current price level is -200.0% off the targeted high while a plunge would see the stock lose 25.0% from current levels.
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 -32.32% over the past 6 months, with this year growth rate of 81.25%, compared to -30.30% for the industry. Revenue growth from the last financial year stood is estimated to be 25.30%.
14 analysts offering their estimates for the company have set an average revenue estimate of 943.83M for the current quarter. 13 have an estimated revenue figure of 983.89M for the next ending quarter. Year-ago sales stood 722.56M and 741M respectively for this quarter and the next, and analysts expect sales will grow by 30.60% for the current quarter and 25.30% 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 in November 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 18.25% of the company shares, while shares held by institutions stand at 71.18% with a share float percentage of 87.08%. Investors are also buoyed by the number of investors in a company, with Transocean Ltd having a total of 537.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 73.12 million shares worth more than $391.21 million. As of 2024-06-30, VANGUARD GROUP INC held 8.9283% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 64.85 million shares as of 2024-06-30. The firm’s total holdings are worth over $346.96 million and represent 7.9186% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are New Economy Fund (The) and Vanguard Total Stock Market Index Fund . As of Jun 30, 2024 , the former fund manager holds about 2.68% shares in the company for having 23.45 shares of worth $93.79 million while later fund manager owns 23.08 shares of worth $92.31 million as of Jun 30, 2024 , which makes it owner of about 2.64% of company’s outstanding stock.
