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Transocean (RIG) Gains But Lags Market: What You Should Know
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In the latest trading session, Transocean (RIG - Free Report) closed at $8.05, marking a +0.37% move from the previous day. The stock lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Heading into today, shares of the offshore oil and gas drilling contractor had gained 30.19% over the past month, outpacing the Oils-Energy sector's gain of 2.95% and the S&P 500's gain of 3.18% in that time.
Transocean will be looking to display strength as it nears its next earnings release. On that day, Transocean is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 10%. Our most recent consensus estimate is calling for quarterly revenue of $724.38 million, up 0.33% from the year-ago period.
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 +12.86%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Transocean. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.8% 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 38, which puts it in the top 16% 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) Gains But Lags Market: What You Should Know
In the latest trading session, Transocean (RIG - Free Report) closed at $8.05, marking a +0.37% move from the previous day. The stock lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Heading into today, shares of the offshore oil and gas drilling contractor had gained 30.19% over the past month, outpacing the Oils-Energy sector's gain of 2.95% and the S&P 500's gain of 3.18% in that time.
Transocean will be looking to display strength as it nears its next earnings release. On that day, Transocean is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 10%. Our most recent consensus estimate is calling for quarterly revenue of $724.38 million, up 0.33% from the year-ago period.
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 +12.86%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Transocean. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.8% 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 38, which puts it in the top 16% 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.