Transocean Ltd. (NYSE:RIG) traded at $1.08 at last check on Tuesday, Sep 15, making an upward move of 6.93% on its previous day’s price.
Looking at the stock we see that its previous close was $1.01 and the beta (5Y monthly) reads 2.36 with the day’s price range being $1.0200 – 1.1000. The company has a 12-month trailing PE ratio of 0. In terms of its 52-week price range, RIG has a high of $7.28 and a low of $0.76. The company’s stock has gained about -53.67% over that past 30 days.
Transocean has a market cap of $642.81 Million and is expected to release its quarterly earnings report on Oct 26, 2020- Oct 30, 2020. With its Forward Dividend at 0 and a yield of 0%, the company’s investors could be worried for the RIG stock to lose ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of -$0.14, with the EPS growth for the year raised at -$0.85 for 2020 and -$1.08 for next year. These figures represent -0.41% and at 0.27% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $770.56 Million, with a low of $722.88 Million and a high of $816.2 Million. The median projection represents growth adding up to -0.8% compared to sales earnings for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $3.11 Billion, or +0.7% up from figures reported last year.
On the other hand, looking at the outlook for the RIG stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Based on estimates by 23 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 11 have rated the Transocean Ltd. (RIG) stock as a Hold, while 2 rate it as a Buy. None analysts rate it as outperform while 2 of them rated it as underperform, whereas 8 suggests the stock as a Sell. The stock has an overall rating of Underweight and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the RIG stock currently stands at 0, and the current price level is -18.14% off its SMA20 and -39.69% from its 50-day simple moving average. The RSI (14) is pointing at 36.95 while the volatility over the past week is 12.71% and drops to 12.69% over the past one month. The beta value is 2.36, while the average true range (ATR) is currently pointing at 0.16. The average price target for the stock over the next 12 months is $1.48, with the estimates having a low of $0.1 and a high of $3.25. These price ends are -90.74% and +200.93% off the current price level respectively, although investors could be excited at the prospect of a +38.89% if the RIG share price touches on the median price of $1.5.
Let’s briefly compare Transocean (RIG) stock to its peers. We find that today’s price change of +6.93% and -82.37% over the past 12 months for RIG competes that of Helmerich & Payne (HP), which has seen its stock price rise 2.51% in the latest trading session and is -62.47% over the last one year. Another of its peers Patterson-Uti Energy (PTEN) has climbed 6.19% today, but is -64.54% down over the past year, while Nabors Industries (NBR) is also up 6.93% yet its price remains in the red at -82.37% over the same period. Helmerich has a P/E ratio of 0 compared to Transocean’s 0 and Patterson-Uti’s 0. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.93% and 0.43%, respectively, in early deals.
Coming back to Transocean Ltd. (NYSE:RIG), we note that the average 3-month trading volume was 24.52 Million, while that of the preceding 10-day period stands at 34.83 Million. Current shares outstanding are 614.61 Million.
According to data from Thomson Reuters, insiders hold 5.75% of the company’s shares while institutions hold 73.89%. The data shows that short shares as of August 30, 2020, stood at 102.94 Million at a short ratio of 3.74. This represents a 16.75% Short interest in Shares outstanding on August 30, 2020. Shares short rose in August from the previous month at 94.15 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -85.32% down in year-to-date price movement.