In today’s recent session, 2.47 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 $4.26, and it changed around -$0.04 or -0.81% from the last close, which brings the market valuation of the company to $3.74B. RIG at last check was trading at a discount to its 52-week high of $6.88, offering almost -61.5% off that amount. The share price’s 52-week low was $3.85, which indicates that the recent value has risen by an impressive 9.62% since then. We note from Transocean Ltd’s average daily trading volume that its 10-day average is 20.64 million shares, with the 3-month average coming to 20.00 million.
Transocean Ltd stock received a consensus recommendation rating of Hold, based on a mean score of 2.65. If we narrow it down even further, the data shows that 7 out of 37 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 2 rated it as Underweight. Transocean Ltd is expected to report earnings per share of -0.0 for the current quarter.
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Transocean Ltd (NYSE:RIG) trade information
Instantly RIG has been showing red trend so far today with a performance of -0.81% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.52 on recent trading dayincreased the stock’s daily price by 5.75%. The company’s shares are currently down -32.83% year-to-date, but still down -0.58% over the last five days. On the other hand, Transocean Ltd (NYSE:RIG) is 0.12% up in the 30-day period. We can see from the shorts that 149.41 million shares have been sold at a short interest cover period of 8.28 day(s).
The consensus price target as assigned by Wall Street analysts is $5.5, which translates to bulls needing to increase their stock price by 22.55% 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 -30.76 percent over the past six months and at a 83.33% annual growth rate that is well above the industry average of -12.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 98.86% in revenue this quarter, and will report an increase of 40.63% in the next quarter. The year-over-year growth rate is expected to be 24.70%, up from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of 963.55M in revenue for the current quarter. 10 analysts expect Transocean Ltd to make 908.55M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 741M and 763M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 30.03%. Forecasts for the next quarter put sales growth at 19.08%.
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 on 2024-Oct-30.
Transocean Ltd (NYSE:RIG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 16.65% of Transocean Ltd shares, and 71.62% of them are in the hands of institutional investors. The stock currently has a share float of 85.93%. Transocean Ltd stock is held by 548.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 8.9283% of the shares, which is about 73.12 million shares worth $391.21 million.
BLACKROCK INC., with 7.9186% or 64.85 million shares worth $346.96 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
New Economy Fund (The) and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 30, 2024. The former held 23.45 shares worth $100.0 million, making up 2.68% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 23.08 shares worth around $98.42 million, which represents about 2.63% of the total shares outstanding.
