Zacks Research Predicts Transocean’s Q2 Earnings (NYSE:RIG)

Transocean Ltd. (NYSE:RIG) – Analysts at Zacks Research lowered their Q2 2026 earnings per share (EPS) estimates for shares of Transocean in a research report issued to clients and investors on Tuesday, October 22nd. Zacks Research analyst N. Choudhury now expects that the offshore drilling services provider will post earnings per share of $0.09 for the quarter, down from their previous forecast of $0.14. The consensus estimate for Transocean’s current full-year earnings is ($0.17) per share. Zacks Research also issued estimates for Transocean’s Q3 2026 earnings at $0.13 EPS and FY2026 earnings at $0.46 EPS.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm had revenue of $861.00 million for the quarter, compared to analyst estimates of $862.25 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year.

Other research analysts have also issued reports about the company. StockNews.com raised Transocean to a “sell” rating in a research report on Thursday, October 10th. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Barclays dropped their target price on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Finally, Benchmark downgraded Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Transocean has an average rating of “Hold” and an average price target of $6.69.

Transocean Stock Up 2.7 %

NYSE:RIG opened at $4.22 on Thursday. Transocean has a one year low of $3.85 and a one year high of $7.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.36 and a quick ratio of 1.08. The company has a market cap of $3.97 billion, a PE ratio of -7.88 and a beta of 2.79. The firm’s 50 day simple moving average is $4.47 and its 200 day simple moving average is $5.18.

Insider Activity

In other news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the purchase, the director now owns 89,574,894 shares in the company, valued at $468,476,695.62. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Transocean news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the acquisition, the director now owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the acquisition, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.16% of the stock is currently owned by company insiders.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Transocean by 0.6% during the first quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock worth $433,208,000 after buying an additional 429,950 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Transocean by 76.9% in the 1st quarter. Russell Investments Group Ltd. now owns 402,839 shares of the offshore drilling services provider’s stock worth $2,530,000 after acquiring an additional 175,130 shares in the last quarter. Swiss National Bank raised its holdings in shares of Transocean by 3.6% in the first quarter. Swiss National Bank now owns 1,437,730 shares of the offshore drilling services provider’s stock valued at $9,029,000 after purchasing an additional 49,800 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Transocean by 214.3% during the second quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider’s stock valued at $2,046,000 after purchasing an additional 260,710 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its holdings in Transocean by 50.7% during the first quarter. Hodges Capital Management Inc. now owns 124,340 shares of the offshore drilling services provider’s stock worth $781,000 after purchasing an additional 41,840 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.