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Transocean (RIG) Flat As Market Sinks: What You Should Know

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In the latest trading session, Transocean (RIG) closed at $4.81, marking no change from the previous day. This change was narrower than the S&P 500's 1.08% loss on the day. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.

Coming into today, shares of the offshore oil and gas drilling contractor had gained 37.82% in the past month. In that same time, the Oils-Energy sector gained 10.73%, while the S&P 500 gained 1.03%.

Wall Street will be looking for positivity from Transocean as it approaches its next earnings report date. On that day, Transocean is projected to report earnings of -$0.13 per share, which would represent year-over-year growth of 27.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $685.72 million, up 4.53% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.54 per share and revenue of $2.71 billion, which would represent changes of +27.03% and +4.07%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Transocean. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 11.01% higher. Transocean is currently sporting a Zacks Rank of #3 (Hold).

The Oil and Gas - Drilling industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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