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) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
Transocean (RIG - Free Report) closed the latest trading day at $5.41, indicating a -0.37% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.12% for the day. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.54%.
Shares of the offshore oil and gas drilling contractor witnessed a gain of 1.88% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.79% and the S&P 500's gain of 2.06%.
Analysts and investors alike will be keeping a close eye on the performance of Transocean in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.06, marking an 84.21% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $778.37 million, indicating a 19.93% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.10 per share and revenue of $3.71 billion, which would represent changes of +110.42% and +29.34%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Transocean. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 35.97% decrease. Currently, Transocean is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Transocean is presently trading at a Forward P/E ratio of 52.07. This represents a premium compared to its industry's average Forward P/E of 14.95.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 228, this industry ranks in the bottom 10% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Transocean (RIG) Stock Drops Despite Market Gains: Important Facts to Note
Transocean (RIG - Free Report) closed the latest trading day at $5.41, indicating a -0.37% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.12% for the day. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.54%.
Shares of the offshore oil and gas drilling contractor witnessed a gain of 1.88% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.79% and the S&P 500's gain of 2.06%.
Analysts and investors alike will be keeping a close eye on the performance of Transocean in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.06, marking an 84.21% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $778.37 million, indicating a 19.93% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.10 per share and revenue of $3.71 billion, which would represent changes of +110.42% and +29.34%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Transocean. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 35.97% decrease. Currently, Transocean is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Transocean is presently trading at a Forward P/E ratio of 52.07. This represents a premium compared to its industry's average Forward P/E of 14.95.
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 228, this industry ranks in the bottom 10% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.