Wall Street analysts expect Transocean (RIG) to post quarterly earnings of $0.09 per share in its upcoming report, which indicates a year-over-year increase of 200%. Revenues are expected to be $1.04 billion, up 9.1% from the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Transocean metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus estimate for 'Contract drilling revenues- Ultra-Deepwater Floaters' stands at $715.42 million. The estimate indicates a year-over-year change of +6%.
Analysts predict that the 'Contract drilling revenues- Harsh Environment Floaters' will reach $265.02 million. The estimate suggests a change of -4.3% year over year.
The consensus among analysts is that 'Utilization - Total fleet average rig utilization' will reach 82.2%. Compared to the present estimate, the company reported 66.8% in the same quarter last year.
Analysts' assessment points toward 'Utilization - Ultra-Deepwater Floaters' reaching 77.5%. The estimate compares to the year-ago value of 64.3%.
The collective assessment of analysts points to an estimated 'Average Daily Revenue - Harsh Environment Floaters' of $445.60 thousand. Compared to the current estimate, the company reported $452.60 thousand in the same quarter of the previous year.
The average prediction of analysts places 'Average Daily Revenue - Total fleet average daily revenue' at $460.69 thousand. Compared to the current estimate, the company reported $434.70 thousand in the same quarter of the previous year.
Analysts expect 'Average Daily Revenue - Ultra Deepwater Floaters' to come in at $467.12 thousand. Compared to the current estimate, the company reported $428.20 thousand in the same quarter of the previous year.
Analysts forecast 'Utilization - Harsh Environment Floaters' to reach 97.2%. Compared to the current estimate, the company reported 75.0% in the same quarter of the previous year.
View all Key Company Metrics for Transocean here>>>
Shares of Transocean have experienced a change of +42.8% in the past month compared to the -1.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), RIG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Transocean Ltd. (RIG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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