Transocean Ltd. (NYSE:RIG) in recent session today was buoying at a fall of -1.22% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $0.81 and 5Y monthly beta was reading 2.41 with its price kept floating in the range of $0.7863 and $0.8100 on the day. Company’s P/E ratio for the trailing 12 months is 0. Considering stock’s 52-week price range provides that RIG hit a high price of $7.28 and saw its price falling to a low level of $0.73 during that period. Over a period of past 1-month, stock came losing -24.85% in its value.
With its current market valuation of $518.99 Million, Transocean Ltd. is set to declare its quarterly results on November 02, 2020. RIG Stock’s Forward Dividend of 0 and its yield of 0 are making investors’ thoughts stronger that it could fall further before the company announces its earnings for the current quarter. Analysts are in estimates of -$0.13 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.84 for 2020 with estimates of that growing to -$1.07 in next year. These estimates are suggesting current year growth of -0.42% for EPS and 0.27% growth next year.
Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $768.28 Million. They suggested that in the process company could generate revenue of as low as $689Million which could climb up to $802.85 Million to hit a high. The average estimate is representing an increase of -1% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $3.1 Billion in 2020, which will be +0.4% more from revenue generated by the company last year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with 1 upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review RIG stock’s current outlook then short term indicators are assigning it an average of 100% Sell, while medium term indicators are categorizing the stock at an average of 100% Sell. Long term indicators are suggesting an average of 100% Sell for it.
According to ratings assigned by 22 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 12 of them are recommending Transocean Ltd. (RIG) as a Hold, while 1 are in view that stock is a Buy. Recommendation by None analysts for the stock is an Outperform while number of those analysts who rated the stock as Underperform is 2, whereas 7 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Underweight and that encourages the investors to exploit the opportunity and build their stake up in the company.
Digging deeper we become aware of the PEG ratio of the RIG stock which is currently positioned at 0. It further provides that stock’s current price level is -6.49% away from its 20-day simple moving average and is -36.14% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 34.52 while volatility remained at 6.36% over the past week which changes to 8.94% when measuring it over the past month. Beta is valued at 2.41, while measure of average true range or ATR is currently at 0.08. In predicting price targets of as low as $0.1 and as high as $2.8, analysts are in agreement on assigning the stock over the next 12 months average price target of $1.23. Stock’s current price level is -87.5% above from estimated low price target while it is 250% below the estimated high; and even if the RIG’s share succeeded to reach the median price of $1, then the outlook of +25% could come to the excitement of the investors.
In comparing Transocean Ltd. (RIG)’s stock with other industry players reveals that stock’s latest price change of -1.22% and that of -82.95% over the past 12 months is in competing position with that of Helmerich & Payne (HP) which saw its stock price fell by -0.87% in the recent trading and went through a decline of -60.39% in past 12-month trading. Industry’s another major player Patterson-Uti Energy (PTEN) has fell -2.11% down in latest trading session, but over the past year has faced a fall of -63.78%, while Nabors Industries (NBR) is also down -1.22% however its price remained floating in the red at -82.95% over the same period. Transocean Ltd. has a P/E ratio of 0 against that of Helmerich & Payne’s 0 while Patterson-Uti Energy is showing 0 for the same. On the other hand, the S&P 500 Index was up 0.58% in the early deals while the Dow Jones Industrial was dealing higher at 0.92%.
Having a second look at Transocean Ltd. (NYSE:RIG) provides that stock’s average daily trading volume for 3 months was 24.37 Million, while it dropped to 16.42 Million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock currently stood at 614.61 Million.
Data compiled by Thomson Reuters highlights that percentage of outstanding shares held by the insiders is 5.75% while it is 73.89% for the institutional holders. The figures also indicate that as of September 29, 2020, number of stock’s short shares was 102000000 which implies a short ratio of 3.6. This shows up a 16.57% of Short Interest in company’s outstanding shares on the day. In September the standing of shares short declined as it was 102.94 Million in the previous month. Drop of -88.2% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ worries about the stock as it is hinting a further drop.