Explaining the rationale for the transaction, Transocean in September said the deal would increase "Transocean's . Theme Leveraged Finance & High Yield Bonds backing Transocean Ltd. surged across the stack today after the offshore drilling company said it had moved to resolve allegations that its efforts to stave off a bankruptcy filing had led it to default on $543 million of senior notes. Some investors seek out stocks with the best percentage price change over the last 52 weeks, expecting that momentum to continue. While the one year change shows the current conditions, the longer look-back period shows how this metric has changed over time and helps put the current reading into proper perspective. The stock has recently been. Value Style - Learn more about the Value Style. In short, this is how much a company is worth. A ratio of 1 means a company's assets are equal to its liabilities. That does not mean that all companies with large growth rates will have a favorable Growth Score. So it's a good idea to compare a stock's debt to equity ratio to its industry to see how it stacks up to its peers first. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. The income number is listed on a company's Income Statement. Jeremy D. Thigpen has an approval rating of 60% among the company's employees. A sales/assets ratio of 2.50 means the company generated $2.50 in revenue for every $1.00 of assets on its books. What Makes Transocean (RIG) a Strong Momentum Stock: Buy Now? Conventional wisdom says that a PEG ratio of 1 or less is considered good (at par or undervalued to its growth rate). Regardless of the many ways investors use this item, whether looking at a stock's price change, an index's return, or a portfolio manager's performance, this time-frame is a common judging metric in the financial industry. Topics; See All Markets; Biofuels; Crack Spread; Crude Oil; Frac Spread; Liquefied Natural Gas; Natural Gas; Natural Gas . A yield of 8.57% also means 8.57 cents of earnings for $1 of investment. So, as with other valuation metrics, it's a good idea to compare it to its relevant industry. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. Zacks Ranks stocks can, and often do, change throughout the month. During the same period in the previous year, the company posted ($0.19) EPS. This suggests that the stock has a possible downside of 21.3%. The longer-term perspective helps smooth out short-term events. So be sure to compare a stock to its industry's growth rate when sizing up stocks from different groups. If the volume is too light, in absolute terms or for a relatively large position, it could be difficult to execute a trade. Note: there are many factors that can influence the longer-term number, not the least of which is the overall state of the economy (recession will reduce this number for example, while a recovery will inflate it), which can skew comparisons when looking out over shorter time frames. What is Transocean's stock price forecast for 2023? It takes the consensus estimate for the current fiscal year (F1) divided by the EPS for the last completed fiscal year (F0) (actual if reported, the consensus if not). Identify stocks that meet your criteria using seven unique stock screeners. Further, we are confident that we can realize meaningful synergies through our OEM agreements, our overall approach to maintenance and our fleet-wide insurance coverage, among other opportunities., Thigpen concluded, Including the five rigs under construction, and considering the two additional rigs that we have recently decided to recycle, Transoceans pro forma fleet will be comprised of 57 floaters, including many of the most technically capable ultra-deepwater floaters, and harsh environment semisubmersibles in the industry. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Transocean started at buy with $7.50 stock price target at Benchmark Jan. 19, 2023 at 6:30 a.m. This shows the percentage of profit a company earns on its sales. Nabors Offshore - $3.05bn Founded in 1952, Nabors Offshore is a company that owns and operates one of the world's largest land-based drilling rig fleets. (1) Per Transoceans internal rig ranking model. Seward & Kissel LLP is acting as legal advisor to Ocean Rig with respect to U.S. law. Search: Transocean Merger Rumors. ROE values, like other values, can vary significantly from one industry to another. Transocean's mailing address is Turmstrasse30, Steinhausen V8, 6312. In addition to all of the proprietary analysis in the Snapshot, the report also visually displays the four components of the Zacks Rank (Agreement, Magnitude, Upside and Surprise); provides a comprehensive overview of the company business drivers, complete with earnings and sales charts; a recap of their last earnings report; and a bulleted list of reasons to buy or sell the stock. The offshore drilling services provider earns $-621,000,000.00 in net income (profit) each year or ($0.88) on an earnings per share basis. In this example, we are using the consensus earnings estimate for the Current Fiscal Year (F1). It's packed with all of the company's key stats and salient decision making information. Currency in USD Follow 2W 10W 9M 6.85 +0.10 (+1.48%) At close: 04:00PM EST 6.89 +0.04 (+0.58%) After hours: 07:52PM EST Summary Company Insights. As Transocean has already committed to voting its approximately 21.3 million common units in favor of the merger, a vote in favor of the merger by approximately 9.9 million (or approximately 50.1% . The respective items are ranked and graded into five groups: A, B, C, D and F. An A is better than a B; a B is better than a C; a C is better than a D; and a D is better than an F. As an investor, you want to buy stocks with the highest probability of success. (844) 978-6257. Current Cash Flow Growth measures the percent change in the year over year Cash Flow. The 1 Week Price Change displays the percentage price change over the last 5 trading days using the most recently completed close to the close from 5 days before. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. The company's press release can be found here. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. Others will look for a pullback on the week as a good entry point, assuming the longer-term price changes (4 week, 12 weeks, etc.) See rankings and related performance below. View analysts price targets for RIG or view top-rated stocks among Wall Street analysts. For example, a P/S ratio of 0.5 means you're paying 50 cents for every $1 of sales the company makes. The (F1) EPS Estimate Quarterly Change calculates the percentage change in the consensus earnings estimate for the current year (F1) over the last 12 weeks. As such, Lamar McKay, the president and chairman of BP, has alluded that the blame belongs there (despite BP accepting responsibility for the cleanup) Corporate Profile Transocean name and trade on the New York Stock Exchange under Transoceans symbol RIG Josh Brown agreed that "each one of these has been a boondoggle," and then, using tangled . Thursday's additional top analyst upgrades and downgrades included Alcoa, British American Tobacco, Capital One Financial, EOG Resources, Johnson Controls, Traeger, Transocean and Vale. It is essentially the inverse of the P/E ratio. The proposed $18 billion merger of offshore oil and gas drilling contractors Transocean Inc <RIG.N> and GlobalSantaFe Corp <GSF.N> may spark consolidation, but opinion is split on whether the link . Ltd., Spitsbergen Rigco Limited, Sub-Saharan Drilling Inc., T. I. A P/B of 0.5 means its selling at half its book value. The Zacks database contains over 10,000 stocks. Technical analysis trends TRANSOCEAN LTD. Technical analysis Income Statement Evolution More Financials Consensus Consensus EPS Revisions More Estimates Revisions Managers and Directors More about the company Sector and Competitors More Results Citi is acting as exclusive financial advisor to Transocean, and King & Spalding LLP is acting as legal advisor to Transocean with respect to U.S. law. DeKalb, which traded its stake in GlobalSantaFe for shares in Transocean, took aim at a proxy statement issued in 2007 in the run-up to the merger vote, which led to the marriage of the world's . This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. Shareholder Equity (which is the difference between Total Assets and Total Liabilities) can be found on the Balance Sheet. How were Transocean's earnings last quarter? 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. While the F1 consensus estimate and revision is a key driver of stock prices, the Q1 consensus is an important item as well, especially over the short-term, and particularly as a stock approaches its earnings date. Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. Their RIG share price forecasts range from $3.30 to $10.00. below): Written communications pursuant to Rule 425 under . This is the Air Japan corporate website, where you can view Corporate Information, Flight Routes, Safety/Flight Information, and CSR Information, etc Cause: In accordance with the terms of the merger agreement, each outstanding ordinary share of Transocean immediately prior to the effective time of the merger was reclassified into (1) 0 BP and Transocean . Transocean stock traded at $4.52 ahead of earnings, but Tuesday's reaction took shares down to $4.41, and on Wednesday they were down another 1.2% to $4.37. In contrast, the net income that goes into the earnings portion of the P/E ratio does not add these in, thus artificially reducing the income and skewing the P/E ratio. In-depth profiles and analysis for 20,000 public companies. And within the M Industry, it might further be delineated into the X Industry group called Banks Northeast. Date of report (date of earliest event reported): February 15, 2023 . The Value Scorecard identifies the stocks most likely to outperform based on its valuation metrics. House, 4th Floor. Transocean Inc. and GlobalSantaFe Corporation Agree to Combine Merger Highlights: -- Seasoned management and technical staffs of both companies led by Chief Executive Officer Robert L. Long and President and Chief Operating Officer Jon A. Marshall. We use cookies to understand how you use our site and to improve your experience. GRAND CAYMAN, Cayman Islands, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Ocean Rig UDW Inc. (NASDAQ:ORIG), ("Ocean Rig" or the "Company"), an international contractor of offshore deepwater drilling services, today announced that its shareholders have approved the merger of the Company with Transocean Ltd. ("Transocean") by which, upon the closing of the merger, Ocean Rig will become a . Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. This includes personalizing content and advertising. -- Equal representation on 14-member board, chaired by Robert E. Rose. Of course, different industries will have different growth rates that are considered good. The X Industry values displayed in this column are the median values for all of the stocks within their respective industry. When comparing this ratio to different stocks in different industries, take note that some businesses are more capital intensive than others. But when compared to its growth rate, it does't have the earnings growth to justify its P/E. Since then, RIG stock has increased by 64.7% and is now trading at $7.51. Bhd., Songa Offshore Management Limited, Songa Offshore Pte. This list of both classic and unconventional valuation items helps separate which stocks are overvalued, rightly lowly valued, and temporarily undervalued which are poised to move higher. It measures a company's ability to pay short-term obligations. Announces Proposed Private Offering of $500 Million of Secured Notes Due 2028, Transocean Ltd. This time period essentially shows you how the consensus estimate has changed from the time of their last earnings report. So the PEG ratio tells you what you're paying for each unit of earnings growth. Wednesday's top analyst upgrades and downgrades included Adobe, Apple, FedEx, HCA Healthcare, Kraft Heinz, Peloton Interactive, Sirius XM, Tesla, Transocean and Veeco Instruments. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. Delayed quotes by FIS. The offshore drilling services provider had revenue of $606 million for the quarter, compared to the consensus estimate of $620.89 million. The P/E ratio of Transocean is -8.53, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Start date: 01/17/2013. . Ltd., Songa Offshore Rig 2 AS, Songa Offshore Rig 3 AS, Songa Offshore SE, Songa Offshore SE, Songa Offshore Saturn Limited, Songa Offshore T & P Cyprus Limited, Songa Saturn Chartering Pte. Transocean has only been the subject of 3 research reports in the past 90 days. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service. Transocean was founded in 1926 and is based in Steinhausen, Switzerland. Strength Seen in Transocean (RIG): Can Its 6.9% Jump Turn into More Strength? The 12 Week Price Change displays the percentage price change over the most recently completed 12 weeks (60 days). Transocean Ltd. (NYSE:RIG) announced its quarterly earnings data on Tuesday, February, 21st. Breaking News: NE latest news. Cash Flow is net income plus depreciation and other non-cash charges. Below, we examine the compound annual growth rate CAGR for short of an investment into Transocean shares, starting with a $10,000 purchase of RIG, presented on a split-history-adjusted basis factoring in the complete Transocean stock split history. The Momentum Scorecard focuses on price and earnings momentum and indicates when the timing is right to enter a stock. Luigs and the midwater floater Songa Delta. Is First Trust Small Cap Growth AlphaDEX ETF (FYC) a Strong ETF Right Now? Zacks Style Scores Education - Learn more about the Zacks Style Scores. 55.16% of the stock of Transocean is held by institutions. A 'good' number would usually fall within the range of 1.5 to 3. The two drillers in September entered into a definitive merger agreement under which Transocean was to acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig's net debt. The X Industry (aka Expanded Industry) is a subset of the M (Medium Sized) Industry, which is a subset of the larger Sector category, which is used to classify all of the stocks in the Zacks Universe. With this unparalleled fleet, the offshore drilling industrys largest and most profitable backlog totaling $12.5 billion, and approximately $3.7 billion in liquidity, we are well-equipped for the market recovery., Pankaj Khanna, President and Chief Executive Officer of Ocean Rig UDW Inc. commented: "This strategic combination of Ocean Rig and Transocean creates a world-class fleet perfectly positioned for the market recovery while reducing fragmentation that currently exists in offshore drilling. Investors like this metric as it shows how a company finances its operations, i.e., what percentage is financed thru shareholder equity or debt. The Momentum Scorecard table also displays the values for its respective Industry along with the values and Momentum Score of its three closest peers. A ratio of 2 means its assets are twice that of its liabilities. But they all have their place in the Growth style. Enterprise Value / Earnings Before Interest, Taxes, Depreciation and Amortization is a valuation metric used to measure a company's value and is helpful in comparing one stock to another. Investors use this metric to determine how a company's stock price stacks up to its intrinsic value. Shares of RIG stock can be purchased through any online brokerage account. Transocean Ltd.'s (NYSE:RIG) Intrinsic Value Is Potentially 45% Above Its Share Price, Transocean Ltd. The 4 Week Price Change displays the percentage price change for the most recently completed 4 weeks (20 trading days). A change in margin can reflect either a change in business conditions, or a company's cost controls, or both. Since bonds and stocks compete for investors' dollars, a higher yield typically needs to be paid to the stock investor for the extra risk being assumed vs. the virtual risk-free investment offered in U.S.-backed Treasuries. Zacks Style Scores Education - Learn more about the Zacks Style Scores. 326 E 8th St #105, Sioux Falls, SD 57103 What is a Good Dividend Yield? mesurer votre utilisation de nos sites et applications. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Like earnings, a higher growth rate is better than a lower growth rate. While the hover-quote on Zacks.com, as well as the various tables, displays the delayed intraday quote and price change, this display shows the daily change as of the most recently completed trading day. [RIG] completed the reclassification of its stock and the merger transaction with GlobalSantaFe Corporation [GSF] In case of mergers, some states required a unanimous vote of shareholders However, since the company's 2007 merger with GlobalSantaFe, Transocean's reputation has suffered considerably, according to EnergyPoint Research, an independent oil service . It also anticipates an adjusted contract drilling revenue of $635 million and an approximate 15% rise . The Earnings Yield (also known as the E/P ratio) measures the anticipated yield (or return) an investment in a stock could give you based on the earnings and the price paid. Growth of $10,000.00. The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. Registrant's telephone number, including area code: +41 (22) 930-9000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. Announces Fourth Quarter, Full Year 2022 Earnings Release Date, What Makes Transocean (RIG) a New Strong Buy Stock, Transocean Ltd. View which stocks are hot on social media with MarketBeat's trending stocks report. Transocean is a provider of offshore contract drilling services for energy companies, owning and operating among versatile fleets with a particular focus on deepwater and harsh-environment drilling. The company is scheduled to release its next quarterly earnings announcement on Monday, May 1st 2023. Cause: In accordance with the terms of the merger agreement, each outstanding ordinary share of Transocean immediately prior to the effective time of the merger was reclassified into (1) 0.6996 . Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. One of the reasons why some investors prefer the P/CF ratio over the P/E ratio is because the net income of the cash flow portion rightly adds depreciation and amortization back in since these are not cash expenditures. Nous, Yahoo, faisons partie de la famille de marques Yahoo. A higher number means the company has more debt to equity, whereas a lower number means it has less debt to equity. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. The rigs will be classified as held for sale and will be recycled in an environmentally responsible manner. As they say, 'price follows volume'. Zacks Rank Education -- Learn more about the Zacks Rank Transocean (NYSE:RIG) Shares Gap Down to $6.75, Transocean (RIG) Incurs Wider-Than-Expected Loss in Q4, Recent 3.7% pullback isn't enough to hurt long-term Transocean (NYSE:RIG) shareholders, they're still up 91% over 1 year, Transocean (NYSE:RIG) Price Target Increased to $6.00 by Analysts at Susquehanna, Transocean (NYSE:RIG) PT Lowered to $6.00, Transocean (NYSE:RIG) Stock Price Down 12.7% Following Weak Earnings, Transocean (RIG) Q4 2022 Earnings Call Transcript, BREAKING: Tiny biotech successfully treats blindness, Transocean (RIG) Reports Q4 Loss, Lags Revenue Estimates. A D/E ratio of 1 means its debt is equivalent to its common equity. It's another great way to determine whether a company is undervalued or overvalued with the denominator being cash flow. While a P/B of less than 3 would mean it's trading at a discount to the market, different industries have different median P/B values. The company employs 5,530 workers across the globe. How good is it? Schlumberger Ltd. agreed to combine its offshore contract-drilling operations with Transocean Offshore Inc. in a $3.26 billion stock transaction that creates the world's largest offshore-energy . Zacks Rank Education - Learn about the Zacks Rank, Zacks Rank Home - Zacks Rank resources in one place, Zacks Premium - The only way to fully access the Zacks Rank. Transocean Sedco Forex Inc. is the world's largest offshore drilling contractor, with an equity market capitalization currently in excess of $12.0 billion. Credit Suisse Securities (USA) LLC is acting as financial advisor to Ocean Rig. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. The official website for the company is www.deepwater.com. Insiders that own company stock include David A Tonnel, Edward R Muller, Frederik Wilhelm Mohn, Jack Sinclair, Keelan Adamson, Perestroika, Saint Victor Diane De, Vanessa C L Chang and W R Jr Stephens. It's used by investors as a measure of financial health. The following companies are subsidiares of Transocean: 15375 Memorial Corporation, Agon Shipping Inc., Aguas Profundas Limitada, AngoSantaFe - Prestacao de Servicos Petroliferos Limitada, Angola Deepwater Drilling Company (Offshore Services) Ltd, Arcade Drilling AS, Asie Sonat Offshore Sdn. A higher number means the more debt a company has compared to its capital structure. Increases Transocean's industry-leading contract backlog by $743 million for a combined total of $12.5 billion, at an average dayrate of $413,000; Expected annual cost synergies of approximately $70 million; The transaction has been unanimously approved by the board of directors of each company; and There are 17 Sectors, 60 different M Industries, and 265 X Industries. The Price to Earnings ratio or P/E is price divided by earnings. High institutional ownership can be a signal of strong market trust in this company. Transocean's stock was trading at $4.56 at the start of the year. Transocean Inc. (RIG) and GlobalSantaFe Corp. (GSF) said Monday they will merge in an all-stock deal. On 11/27/07, Transocean Inc. [RIG] completed the reclassification of its stock and the merger transaction with GlobalSantaFe Corporation [GSF]. Also, consistent with the Companys strategy of recycling less competitive rigs, Transocean will retire two of its floaters, the ultra-deepwater drillship C.R. Tuesday's additional top analyst upgrades and downgrades were on Anheuser-Busch InBev, Citigroup, Discover Financial Services, Edison International, Goldman Sachs, Morgan Stanley, NextEra Energy, Tuesday's additional top analyst upgrades and downgrades included Cracker Barrel, Farfetch, Intel, Kodiak Sciences, Pinterest, Snowflake, Teladoc and more. The median P/B ratio for stocks in the S&P is just over 3. The two drillers in September entered into a definitive merger agreement under which Transocean was to acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig's net debt, subject to, subject to the approval of both Transocean and Ocean Rig shareholders and the satisfaction of customary Transocean Inc. 36C Dr. Roy's Drive, Bermuda. It was another weak fleet status with an added backlog below $100 million, showing that the offshore drilling industry has not. Transocean will pay approximately $2 He has had recent activist campaigns at Sandridge, Energen and Occidental Petroleum and had previously ousted Michael Talbert, the chairman of Transocean Ltd The Deal Icahn has publicly offered $15 a share for Commercial Metals, an offer that totals about $1 Below is a list of employers that have announced significant changes to their defined benefit .
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