Transocean Ltd (NYSE:RIG) price on current trading day, fall -2.63% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.96.
A look at the stock’s price movement, the level at last check in today’s session was $3.04. Turning to its 52-week performance, $6.88 and $3.03 were the 52-week high and 52-week low respectively. Overall, RIG moved -22.72% over the past month.
Transocean Ltd’s market cap currently stands at around $2.60 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 882.46M for the company’s revenue for the quarter, with a low and high estimate of 871.68M and 894M respectively. The average forecast suggests up to a 15.66% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.87B, representing a 9.74% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RIG is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 12 recommend RIG as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RIG’s current price about -16.40% and -20.49% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 26.73, while 7-day volatility ratio is 5.28% and 5.04% in the 30-day chart. Further, Transocean Ltd (RIG) has a beta value of 2.72, and an average true range (ATR) of 0.17. Analysts have given the company’s stock an average 52-week price target of $5, forecast between a low of $4.5 and high of $5.5. Looking at the price targets, the low is -52.03% off recent price level in today’s trading while to achieve the yearly target high, it has to move -85.81%. Nonetheless, investors will most likely welcome a -68.92% jump to $5 which is the analysts’ median price.
If we refocus on Transocean Ltd (NYSE:RIG), historical trading data shows that trading volumes averaged 26.17 million over the past 3 months. The company’s latest data on shares outstanding shows there are 875.83 million shares.
The 16.61% of Transocean Ltd’s shares are in the hands of company insiders while institutional holders own 69.80% of the company’s shares. Current price change has pushed the stock -21.07% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RIG stock continues to rise going into the next quarter.
