Transocean Ltd (NYSE:RIG) traded at $4.18 at last check on current trade day and made a downward move of -2.91% on its previous day’s price.
Looking at the stock we see that its previous close was $4.30 and the beta (5Y monthly) reads 2.792 with the day’s price range being $4.12 – $4.2006. In terms of its 52-week price range, RIG has a high of $7.96 and a low of $3.85. The company’s stock has gained about 1.09% over that past 30 days.
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Transocean Ltd has a market cap of $3.66 billion and is expected to release its quarterly earnings report on 2024-Oct-28. Estimates by analysts give the company expected earnings per share (EPS) of -0.05, with the EPS growth for the year raised at -0.17 for current year and -0.17 for next year.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 944.35M, with a low of 929M and a high of 982M. The median projection represents growth squeezing down to 30.70% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 3.55B, or 25.40% 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 100% Sell.
Based on estimates by 15 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 3 have rated the Transocean Ltd (RIG) stock as a Hold, while 12 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is -5.62% off its SMA20 and -9.38% from its 50-day simple moving average. The RSI (14) is pointing at 41.02 while the volatility over the past week is 3.93% and jumps to 4.38% over the past one month. The beta value is 2.79, while the average true range (ATR) is currently pointing at 0.20. The average price target for the stock over the next 12 months is $5.5, with the estimates having a low of $3 and a high of $12. These price ends are 28.23% and -187.08% off the today’s price level respectively, although investors could be excited at the prospect of a -31.58% if the RIG share price touches on the median price of $5.5.
Coming back to Transocean Ltd (NYSE:RIG), we note that the average 3-month trading volume was 19.27 million, while that of the preceding 10-day period stands at 18.14 million. Current shares outstanding are 809.03 million.
The insiders hold 18.09% of the company’s shares while institutions hold 69.69%. The data shows that short shares as of 2024-09-30, stood at 159.76 million at a short ratio of 6.94. This represents a 2052.00 short interest in shares outstanding on 2024-09-30. Shares short rose in September from the previous month at 159.11 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -34.25% down in year-to-date price movement.
