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Transocean (RIG) Stock Sinks As Market Gains: What You Should Know
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Transocean (RIG - Free Report) closed at $6.17 in the latest trading session, marking a -1.91% move from the prior day. This move lagged the S&P 500's daily gain of 0.37%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 1.26%.
Heading into today, shares of the offshore oil and gas drilling contractor had lost 2.78% over the past month, lagging the Oils-Energy sector's gain of 2.19% and the S&P 500's gain of 4.31% in that time.
Wall Street will be looking for positivity from Transocean as it approaches its next earnings report date. The company is expected to report EPS of -$0.11, down 10% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $724.38 million, up 0.33% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.50 per share and revenue of $3.04 billion. These totals would mark changes of +46.24% and +12.91%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Transocean. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 9.17% lower. Transocean is holding a Zacks Rank of #3 (Hold) right now.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Transocean (RIG) Stock Sinks As Market Gains: What You Should Know
Transocean (RIG - Free Report) closed at $6.17 in the latest trading session, marking a -1.91% move from the prior day. This move lagged the S&P 500's daily gain of 0.37%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 1.26%.
Heading into today, shares of the offshore oil and gas drilling contractor had lost 2.78% over the past month, lagging the Oils-Energy sector's gain of 2.19% and the S&P 500's gain of 4.31% in that time.
Wall Street will be looking for positivity from Transocean as it approaches its next earnings report date. The company is expected to report EPS of -$0.11, down 10% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $724.38 million, up 0.33% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.50 per share and revenue of $3.04 billion. These totals would mark changes of +46.24% and +12.91%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Transocean. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 9.17% lower. Transocean is holding a Zacks Rank of #3 (Hold) right now.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.