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Transocean (RIG) Stock Moves -1.07%: What You Should Know
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Transocean (RIG - Free Report) closed the most recent trading day at $2.77, moving -1.07% from the previous trading session. This change was narrower than the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Heading into today, shares of the offshore oil and gas drilling contractor had lost 23.08% over the past month, lagging the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.
Wall Street will be looking for positivity from Transocean as it approaches its next earnings report date. This is expected to be August 1, 2022. The company is expected to report EPS of -$0.11, up 38.89% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $686.59 million, up 4.66% from the year-ago period.
RIG's full-year Zacks Consensus Estimates are calling for earnings of -$0.51 per share and revenue of $2.73 billion. These results would represent year-over-year changes of +31.08% and +4.82%, respectively.
It is also important to note the recent changes to analyst estimates for Transocean. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.77% higher. Transocean is currently sporting a Zacks Rank of #2 (Buy).
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RIG in the coming trading sessions, be sure to utilize Zacks.com.
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Transocean (RIG) Stock Moves -1.07%: What You Should Know
Transocean (RIG - Free Report) closed the most recent trading day at $2.77, moving -1.07% from the previous trading session. This change was narrower than the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Heading into today, shares of the offshore oil and gas drilling contractor had lost 23.08% over the past month, lagging the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.
Wall Street will be looking for positivity from Transocean as it approaches its next earnings report date. This is expected to be August 1, 2022. The company is expected to report EPS of -$0.11, up 38.89% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $686.59 million, up 4.66% from the year-ago period.
RIG's full-year Zacks Consensus Estimates are calling for earnings of -$0.51 per share and revenue of $2.73 billion. These results would represent year-over-year changes of +31.08% and +4.82%, respectively.
It is also important to note the recent changes to analyst estimates for Transocean. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.77% higher. Transocean is currently sporting a Zacks Rank of #2 (Buy).
The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RIG in the coming trading sessions, be sure to utilize Zacks.com.