Macquarie Upgrades Transocean to Neutral (RIG)

By admin | 6 years ago

Transocean (NYSE: RIG) was upgraded by investment analysts at Macquarie from an “underperform” rating to a “neutral” rating in a note issued to investors on Wednesday.

Transocean traded up 1.44% on Wednesday, hitting $43.53. Transocean has a 52-week low of $38.21 and a 52-week high of $70.77. The company’s market cap is $15.257 billion.

Transocean last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.12 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.34 by $0.22. Transocean’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Transocean will post $0.86 EPS next quarter.

A number of other firms have also recently commented on RIG. Analysts at UBS AG (NYSE: UBS) raised their EPS on shares of Transocean in a research note to investors on Friday, May 4th. They now have a “buy” rating and a $70.00 price target on the stock. They previously had a $62.00 price target on the stock. Separately, analysts at Guggenheim upgraded shares of Transocean from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, May 3rd. They now have a $65.00 price target on the stock. Finally, 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.

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

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