Earnings Outlook For Transocean
Portfolio Pulse from Benzinga Insights
Transocean (NYSE:RIG) is scheduled to release its quarterly earnings report on Monday, 2024-02-19, with analysts expecting an EPS of $-0.24. The company's past earnings performance shows a trend of missing EPS estimates, leading to negative stock price movements the following day. Shares of Transocean have decreased by 26.46% over the last 52 weeks, indicating a bearish sentiment among long-term shareholders ahead of the earnings announcement.
February 16, 2024 | 2:00 pm
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NEGATIVE IMPACT
Transocean is expected to report an EPS of -$0.24 for the upcoming quarter. Historical data shows negative stock movements following earnings misses. With shares down 26.46% over the past year, investor sentiment is bearish.
Given Transocean's history of not meeting EPS estimates and the subsequent negative impact on its stock price, it's likely that any deviation from the expected EPS, especially a miss, could lead to a short-term decrease in stock price. The bearish sentiment among long-term shareholders, as evidenced by the 26.46% decrease in share price over the last year, further supports a negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100