Transocean Ltd (NYSE:RIG)’s traded shares stood at 8.07 million during the latest session, with the company’s beta value hitting 2.79. At the last check today, the stock’s price was $4.01, to imply a decrease of -2.55% or -$0.1 in intraday trading. The RIG share’s 52-week high remains $7.15, putting it -78.3% down since that peak but still an impressive 3.99% since price per share fell to its 52-week low of $3.85. The company has a valuation of $3.51B, with an average of 13.5 million shares in intraday trading volume over the past 10 days and average of 19.23 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Transocean Ltd (RIG), translating to a mean rating of 2.53. Of 15 analyst(s) looking at the stock, 0 analyst(s) give RIG a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 12 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.04.
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Transocean Ltd (NYSE:RIG) trade information
After registering a -2.55% downside in the latest session, Transocean Ltd (RIG) has traded red over the past five days. The 5-day price performance for the stock is -5.99%, and -9.39% over 30 days. With these gigs, the year-to-date price performance is -36.93%. Short interest in Transocean Ltd (NYSE:RIG) saw shorts transact 159.76 million shares and set a 6.94 days time to cover.
The extremes give us $3 and $12 for target low and target high price respectively. As such, RIG has been trading -199.25% off suggested target high and 25.19% from its likely low.
Transocean Ltd (RIG) estimates and forecasts
Looking at statistics comparing Transocean Ltd share performance against respective industry, we note that the company has outperformed competitors. Transocean Ltd (RIG) shares are -30.23% down over the last 6 months, with its year-to-date growth rate higher than industry average at 82.29% against -30.80%. Revenue is forecast to grow 88.90% this quarter before jumping 144.40% for the next one. The rating firms project that company’s revenue will grow 25.30% compared to the previous financial year.
Revenue forecast for the current quarter as set by 14 analysts is 943.83M. Meanwhile, for the current quarter, a total of 13 analyst(s) estimate revenue growth to 983.43M.Earnings reports from the last fiscal year show that sales brought in 722.56M and 741M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 30.60% before jumping 32.70% in the following quarter.
RIG Dividends
Transocean Ltd has its next earnings report out on 2024-Oct-30. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Transocean Ltd (NYSE:RIG)’s Major holders
Transocean Ltd insiders hold 16.66% of total outstanding shares, with institutional holders owning 76.32% of the shares at 91.57% float percentage. In total, 76.32% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 73.12 million shares (or 8.9283% of shares), all amounting to roughly $391.21 million.
The next major institution holding the largest number of shares is BLACKROCK INC. with 64.85 million shares, or about 7.9186% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $346.96 million.
We also have New Economy Fund (The) and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Transocean Ltd (RIG) shares. Going by data provided on Sep 30, 2024, New Economy Fund (The) holds roughly 23.45 shares. This is just over 2.68% of the total shares, with a market valuation of $93.67 million. Data from the same date shows that the other fund manager holds a little less at 23.08, or 2.64% of the shares, all valued at about 92.19 million.
