We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Transocean (RIG) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Transocean (RIG - Free Report) closed the most recent trading day at $6.22, moving +0.97% from the previous trading session. This move lagged the S&P 500's daily gain of 1.22%. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 4.63%.
Heading into today, shares of the offshore oil and gas drilling contractor had gained 4.58% over the past month, outpacing the Oils-Energy sector's gain of 2.49% and lagging the S&P 500's gain of 6.22% in that time.
Transocean will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.11, down 10% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $724.38 million, up 0.33% from the year-ago period.
RIG's full-year Zacks Consensus Estimates are calling for earnings of -$0.50 per share and revenue of $3.04 billion. These results would represent year-over-year changes of +46.24% and +12.91%, respectively.
Any recent changes to analyst estimates for Transocean should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.17% lower. Transocean is currently a Zacks Rank #3 (Hold).
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 29, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Transocean (RIG) Gains But Lags Market: What You Should Know
Transocean (RIG - Free Report) closed the most recent trading day at $6.22, moving +0.97% from the previous trading session. This move lagged the S&P 500's daily gain of 1.22%. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 4.63%.
Heading into today, shares of the offshore oil and gas drilling contractor had gained 4.58% over the past month, outpacing the Oils-Energy sector's gain of 2.49% and lagging the S&P 500's gain of 6.22% in that time.
Transocean will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.11, down 10% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $724.38 million, up 0.33% from the year-ago period.
RIG's full-year Zacks Consensus Estimates are calling for earnings of -$0.50 per share and revenue of $3.04 billion. These results would represent year-over-year changes of +46.24% and +12.91%, respectively.
Any recent changes to analyst estimates for Transocean should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.17% lower. Transocean is currently a Zacks Rank #3 (Hold).
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 29, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.