Transocean LTD (RIG) Releases Earnings Results, Beats Expectations By $0.41 EPS

Transocean LTD (RIG) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.69 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.41. Analysts had a consensus of $0.28. The company posted revenue of $1341.00 million in the period, compared to analysts expectations of $1098.67 million. The company’s revenue was down -34.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS.

Many Wall Street Analysts have commented on Transocean LTD. Transocean LTD was Initiated by Nomura to “Reduce” on Apr 8, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 10 from a previous price target of $12 .

Transocean LTD closed down -0.07 points or -0.63% at $11.01 with 1,10,85,389 shares getting traded on Monday. Post opening the session at $11.04, the shares hit an intraday low of $10.63 and an intraday high of $11.17 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Sep 23, 2015, Lars Sjobring (SVP and General Counsel) sold 5,324 shares at $14.40 per share price. According to the SEC, on Sep 3, 2015, Vanessa C L Chang (director) purchased 1,500 shares at $13.50 per share price.

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The Company specializes in technically demanding regions of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services. The Company’s mobile offshore drilling fleet consists of floaters and high-specification jackups used in support of offshore drilling activities and offshore support services on a worldwide basis. The Company owned or had partial ownership interests in and operated 71 mobile offshore drilling units and its fleet consisted of 44 high-specification floaters (ultra-deepwater deepwater and harsh environment semisubmersibles and drillships) 17 midwater floaters and 10 high-specification jackups.

Transocean LTD

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