No mention of a $5 price target!
Clarkson Capital downgraded shares of Transocean LTD (NYSE:RIG) from a hold rating to a sell rating in a report issued on Friday, TheFlyOnTheWall.com reports.
Shares of Transocean LTD (NYSE:RIG) traded down 2.39% on Friday, hitting $14.69. 9,567,104 shares of the company’s stock traded hands. Transocean LTD has a 52-week low of $13.28 and a 52-week high of $44.49. The stock has a 50-day moving average of $17.58 and a 200-day moving average of $17.14. The company’s market cap is $5.34 billion.
Transocean LTD (NYSE:RIG) last announced its earnings results on Wednesday, May 6th. The offshore drilling services provider reported $1.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.50. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company posted $1.43 earnings per share. Transocean LTD’s revenue was down 12.7% compared to the same quarter last year. On average, analysts predict that Transocean LTD will post $2.33 earnings per share for the current fiscal year.
The company also recently declared a dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, May 27th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Transocean LTD from a buy rating to a hold rating in a research note on Wednesday. Analysts at Susquehanna lowered their price target on shares of Transocean LTD from $14.00 to $13.00 and set a negative rating on the stock in a research note on Tuesday. Analysts at Canaccord Genuity reiterated a sell rating on shares of Transocean LTD in a research note on Thursday, June 25th. Analysts at Global Hunter Securities lowered their price target on shares of Transocean LTD from $18.00 to $16.00 and set a neutral rating on the stock in a research note on Wednesday, June 24th. Finally, analysts at Wells Fargo & Co. reiterated a sell rating and set a $14.00 price target on shares of Transocean LTD in a research note on Saturday, June 20th. Sixteen equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $18.38.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells. The Company operates in two segments: contract drilling services and drilling management services. Contract drilling services, the Company’s primary business, involves contracting its mobile offshore drilling fleet, related equipment and work crews primarily on a dayrate basis to drill oil and gas wells. Its drilling management services segment provides oil and gas drilling management services on either a dayrate basis or a completed-project, fixed-price (or turnkey) basis, as well as drilling engineering and drilling project management services. As of February 14, 2012, it owned or had partial ownership interests in and operated 134 mobile offshore drilling units. On October 4, 2011, the Company acquired Aker Drilling ASA (Aker Drilling). In February 2011, it sold the subsidiary that owns the High-Specification Jackup Trident 20.
