Transocean Ltd. (NYSE:RIG) shares, dropped in value on Wednesday, Jan 13, with the stock price down by -0.61% to the previous day’s close as weak demand from buyers trailed the stock to $3.25.
Actively observing the price movement in the last trading, the stock closed the session at $3.27, falling within a range of $3.0300 and $3.3800. The value of beta (5-year monthly) was 3.79 whereas the PE ratio was 0 over 12-month period. Referring to stock’s 52-week performance, its high was $6.4, and the low was $0.65. On the whole, RIG has fluctuated by 28.97% over the past month.
With the market capitalization of Transocean Ltd. currently standing at about $1.99 Billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 15, 2021- Feb 19, 2021. The company’s Forward Dividend Ratio is 0, with its dividend yield at 0%. As a result, investors may see a weakening in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.19, which is expected to increase to -$1.45 for fiscal year 2021 and then to about -$0.7 by fiscal year 2022. Data indicates that the EPS growth is expected to be -0.54% in 2021, while the next year’s EPS growth is forecast to be 0.06%.
Analysts have estimated the company’s revenue for the quarter at $697.49 Million, with a low estimate of $657.27 Million and a high estimate of $726.1 Million. According to the average forecast, sales growth in current quarter could fell down -11.9%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2021, the company’s y-o-y revenues would reach $3.14 Billion, representing an increase of 1.6% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that RIG’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
18 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 10 analyst(s), 1 recommend it as a Buy and no body called the RIG stock Outperform. In the meantime, 1 analyst(s) believe the stock as Underperform and 6 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Underweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RIG currently trading nearly 31% and 68.5% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 79.38, while the 7-day volatility ratio is showing 1011% which for the 30-day chart, stands at 8.9%. Furthermore, Transocean Ltd. (RIG)’s beta value is 3.79, and its average true range (ATR) is 0.24. The company’s stock has been forecasted to trade at an average price of $1.59 over the course of the next 52 weeks, with a low of $0.1 and a high of $3.1. Based on these price targets, the low is -96.92 off current price, whereas the price has to move -4.62% to reach the yearly target high. Additionally, analysts’ median price of $1.25 is likely to be welcomed by investors because it represents an increase of -61.54% from the current levels.
A comparison of Transocean Ltd. (RIG) with its peers suggests the former has fared considerably weaker in the market. RIG showed an intraday change of -0.61% in last session, and over the past year, it dropped by -48.25%. In comparison, Helmerich & Payne (HP) has moved lower at -5.08% on the day and was down -46.14% over the past 12 months. On the other hand, the price of Patterson-Uti Energy (PTEN) has fallen -3.71% on the day. The stock, however, is off -37.38% from where it was a year ago. Additionally, there is a decline of -61% for Nabors Industries (NBR) in last trading while the stock has seen an overall depriciation of -48.25% over the past year. The PE ratio stands at 0 for Transocean Ltd., compared to 0 for Helmerich & Payne, and 0 for Patterson-Uti Energy. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.23%. Meanwhile, the Dow Jones Industrial weakened by -0.03%.
Data on historical trading for Transocean Ltd. (NYSE:RIG) indicates that the trading volumes over the past 10 days have averaged 39.37 Million and over the past 3 months, they’ve averaged 36.27 Million. According to company’s latest data on outstanding shares, there are 615.11 Million shares outstanding.
Nearly 5.75% of Transocean Ltd.’s shares belong to company insiders and institutional investors own 48.88% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 109.82 Million shares as on December 30, 2020, resulting in a short ratio of 2.87. According to the data, the short interest in Transocean Ltd. (RIG) stood at 17.85% of shares outstanding as of December 30, 2020; the number of short shares registered in November reached 123.45 Million. The stock has risen by +40.69% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RIG stock heading into the next quarter.
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