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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 $6.97 in the latest trading session, marking a -0.57% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.14%.
Investors will be hoping for strength from Transocean as it approaches its next earnings release. The company is expected to report EPS of -$0.22, down 120% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $724.38 million, up 0.33% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.50 per share and revenue of $3.04 billion, which would represent changes of +46.24% and +12.91%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Transocean. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 group has a Zacks Industry Rank of 68, putting it in the top 27% 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.
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 $6.97 in the latest trading session, marking a -0.57% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.14%.
Investors will be hoping for strength from Transocean as it approaches its next earnings release. The company is expected to report EPS of -$0.22, down 120% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $724.38 million, up 0.33% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.50 per share and revenue of $3.04 billion, which would represent changes of +46.24% and +12.91%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Transocean. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 group has a Zacks Industry Rank of 68, putting it in the top 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.