Guggenheim Upgrades Transocean to Buy (RIG)

By admin | 6 years ago

Transocean (NYSE: RIG) was upgraded by research analysts at Guggenheim to a “buy” rating in a report released on Thursday.

Shares of Transocean traded down 3.80% during mid-day trading on Thursday, hitting $48.36. Transocean has a one year low of $38.21 and a one year high of $70.77. The company’s market cap is $16.950 billion.

The company last announced its quarterly results on Wednesday, May 2nd. It reported $0.12 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.34 EPS by $0.22. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts predict that Transocean will post $0.91 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Raymond James (NYSE: RJF) downgraded shares of Transocean from a “strong-buy” rating to a “market perform” rating in a research note to investors on Monday, April 16th. Separately, analysts at FBR Capital (NASDAQ: FBCM) raised their price target on shares of Transocean from $70.00 to $73.00 in a research note to investors on Wednesday, April 11st. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Transocean in a research note to investors on Tuesday, April 3rd. They now have a $58.00 price target on the stock.

Transocean Ltd. (Transocean) is an international provider of offshore contract drilling services for oil and gas wells.

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