Transocean denies R&B merger speculation Talk is flying in the offshore drilling rig industry of a possible merger between two major international players - Transocean of Norway and. Pursuant to Section 13 or 15 (d) of. Transocean has another $1.8 billion of notes due by year-end 2022 and $2.3 billion in 2023, and if the company fails to refinance the debt it "will face a genuine liquidity crisis," Green said. It is the most commonly used metric for determining a company's value relative to its earnings. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. 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.) This is a medium-term price change metric (like the 4 week price change). The median P/B ratio for stocks in the S&P is just over 3. Value investors will typically look for stocks with P/E ratios under 20, while growth investors and momentum investors are often willing to pay much more. A P/B of 2 means it's selling at 2 times its book value. Moreover, when comparing stocks in different industries, it can become even more important to look at the relative measures, since different stocks in different industries have different values that are considered normal. 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 . 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. The VGM Score are a complementary set of indicators to use alongside the Zacks Rank. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Search: Transocean Merger Rumors. Transocean owns and operates a fleet of 48 mobile offshore drilling units that offer services for energy companies. 326 E 8th St #105, Sioux Falls, SD 57103 The merger cleared the DOJ after Compass . The 4 week price change is a good reference point for the individual stock and how it's performed in relation to its peers. 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. So be sure to compare it to its group when comparing stocks in different industries. Topics; See All Markets; Biofuels; Crack Spread; Crude Oil; Frac Spread; Liquefied Natural Gas; Natural Gas; Natural Gas . To see all exchange delays and terms of use please see Barchart's disclaimer. Transocean's stock was trading at $4.56 at the start of the year. Is Transocean (RIG) Outperforming Other Oils-Energy Stocks This Year? As such, adding Ocean Rigs premium assets to our industry-leading fleet provides us with an increased number of the modern and highly efficient ultra-deepwater drillships preferred by our customers, and better positions us to capitalize on what, we believe, is an imminent recovery in the ultra-deepwater market., Thigpen continued, This combination with Ocean Rig further strengthens our relationships with strategic customers, while expanding our presence in the key markets of Brazil, West Africa and Norway. Many other growth items are considered as well. Ocean Rigs fleet is comprised of nine high-specification ultra-deepwater drillships and two harsh environment semisubmersibles. Seeing how a company makes use of its equity, and the return generated on it, is an important measure to look at. and Nauticus Robotics, Inc., a Texas corporation. International Mexico S. de R.L. Historical EPS Growth Rate looks at the average annual (trailing 12 months) EPS growth rate over the last 3-5 years of actual earnings. The ever popular one-page Snapshot reports are generated for virtually every single Zacks Ranked stock. 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 . The transaction has been unanimously approved by the board of directors of each company. Bhd., Barents Rigco Limited, Blegra Asset Management Limited, Blegra Financing Limited, Caledonia Offshore Drilling Services Limited, Challenger Minerals Inc., Covent Garden - Servios e Marketing Sociedade Unipessoal Lda, Deepwater Drilling (Transocean Ghana) Limited, Deepwater Drilling North Africa LLC - Free Zone, Deepwater Pacific 1 Inc., Deepwater Supply Inc., Drillship Alonissos Owners Inc., Drillship Hydra Owners Inc., Drillship Kithira Owners Inc., Drillship Kythnos Owners Inc., Drillship Paros Owners Inc., Drillship Skiathos Owners Inc., Drillship Skopelos Owners Inc., Drillship Skyros Owners Inc., Eastern Med Consultants Inc., Entities Holdings Inc., GSF Leasing Services GmbH, Global Marine Inc., Global Offshore Drilling Limited, GlobalSantaFe (Labuan) Inc., GlobalSantaFe B.V., GlobalSantaFe C.R. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.28% per year. The official website for the company is www.deepwater.com. If the P/S ratio is 1, that means you're paying $1 for every $1 of sales the company makes. Jan 7, 2021. But, it's made even more meaningful when looking at the longer-term 4 week percent change. 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 4 Week Price Change displays the percentage price change for the most recently completed 4 weeks (20 trading days). Breaking News: NE latest news. There are currently 4 hold ratings and 4 buy ratings for the stock. The proposed acquisition of Ocean Rig provides us with a unique opportunity to continue enhancing our fleet of ultra-deepwater and harsh environment floaters, without compromising our liquidity or overall balance sheet flexibility, said Transoceans President and Chief Executive Officer, Jeremy Thigpen. The Fly team scours all sources of company news, from mainstream to cutting edge,then filters out the noise to deliver shortform stories consisting of only market moving content. This is a medium-term price change metric. mesurer votre utilisation de nos sites et applications. The monthly returns are then compounded to arrive at the annual return. A higher number means the more debt a company has compared to its capital structure. To learn more, click here. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The VGM score is based on the trading styles of Growth, VAlue, and Momentum. Announces Pricing of $1.175 Billion of Senior Secured Notes due 2030. A P/B of 0.5 means its selling at half its book value. TransOcean 2: Rivals - Update 1.2 available. (844) 978-6257. Search: Csx Merger Rumors. STEINHAUSEN, Switzerland, May 03, 2021 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) today reported a net loss attributable to controlling interest of $99 million, $0.16 per diluted share, for. The Price to Book ratio or P/B is calculated as market capitalization divided by its book value. The change is made all the more important the closer proximity it is to the stock's earnings date since it is generally believed that the most recent estimates are the most accurate since it's using the most up-to-date information leading up to the report. House, 4th Floor. This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. It's another great way to determine whether a company is undervalued or overvalued with the denominator being cash flow. Cash Flow is a measurement of a company's health. The company's press release can be found here. 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. Transocean had a negative trailing twelve-month return on equity of 5.85% and a negative net margin of 24.12%. It serves integrated energy companies, government-owned or government-controlled oil companies, and other independent energy companies. Credit Suisse Securities (USA) LLC is acting as financial advisor to Ocean Rig. 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. The Historical Cash Flow Growth is the longer-term (3-5 year annualized) growth rate of the cash flow change. A high percentage of insider ownership can be a sign of company health. Of course, different industries will have different growth rates that are considered good. Feb. 7, 2022, 06:20 PM Peloton Interactive Inc (NASDAQ:PTON) climbed more than 20% Monday with rumors of the fitness equipment manufacturer finding a potential suitor. 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. As the name suggests, it's calculated as sales divided by assets. According to analysts' consensus price target of $5.91, Transocean has a forecasted downside of 21.3% from its current price of $7.51. Compare Top Brokerages Here. 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. Here's a look at three companies reporting June-quarter earnings after markets close Monday, August 2. This is also referred to as the cash yield. Washington, D.C. 20549. This is also useful to know when comparing a stock's daily volume (which can be found on a ticker's hover-quote) to that of its average volume. Transocean anticipates re-ranking the combined fleet, which may result in additional rigs being recycled. In this case, it's the cash flow growth that's being looked at. Within each Score, stocks are graded into five groups: A, B, C, D and F. As you might remember from your school days, 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. 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 . While our testing has found that a P/S ratio of <2 is the optimum range for returns, be sure to compare this ratio to its respective industry. Zacks Premium - The way to access to the Zacks Rank. There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. Projected EPS Growth looks at the estimated growth rate for one year. 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. Debt to Capital (or D/C ratio) is the fraction of debt (including mortgages and long-term leases) to long-term capitalization. Upon consummation, this transaction will be of significant benefit to the stakeholders of both companies.". 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. The merger is not subject to any financing condition. N.V., GlobalSantaFe Drilling Company, GlobalSantaFe Drilling Company (North Sea) Limited, GlobalSantaFe Drilling Company (Overseas) Limited, GlobalSantaFe Drilling Mexico S. de R.L. This situation forced Seadrill to suspend its dividend, while Transocean (RIG 0.86%) and Ensco slashed their shareholder payouts by 80%. Transocean Sedco Forex Inc. is the world's largest offshore drilling contractor, with an equity market capitalization currently in excess of $12.0 billion. Transocean Inc., the world's largest offshore driller, said on Monday it would buy GlobalSantaFe Corp. for about $17 billion in a no-premium deal, adding a fleet of shallow-water drilling rigs to its This time period essentially shows you how the consensus estimate has changed from the time of their last earnings report. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. (1) Per Transoceans internal rig ranking model. A positive change in the cash flow is desired and shows that more 'cash' is coming in than 'cash' going out. This item is updated at 9 pm EST each day. Also, by looking at the rate of this item, rather than the actual dollar value, it makes for easier comparisons across the industry and peers. Get short term trading ideas from the MarketBeat Idea Engine. -- Equal representation on 14-member board, chaired by Robert E. Rose. Cash is vital to a company in order to finance operations, invest in the business, pay expenses, etc. Conversely, if the yield on stocks is higher than the 10 Yr., then stocks would be considered undervalued. 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. * indicates the important links in the menu, After-Market: Within the Finance Sector, it would fall into the M Industry of Banks & Thrifts. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Debt to Equity (or D/E ratio) is total liabilities divided by total shareholder equity. NASDAQ data is at least 15 minutes delayed. In general, the lower the ratio is the better. Aside from using absolute numbers, however, you can also find value by comparing the P/E ratio to its relevant industry and its peers. If a stock's Q1 estimate revision decreases leading up to its earnings release, that's usually a negative sign, whereas an increase is typically a positive sign. The (Q1) EPS Estimate Monthly Change calculates the percentage change in the consensus earnings estimate for the current quarter (Q1) over the last 4 weeks. 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 transaction, which is expected to be completed during the first quarter of 2019, is subject to the approval of both Transocean and Ocean Rig shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. On average, they anticipate the company's stock price to reach $5.91 in the next year. Sign in to your free account to enjoy all that MarketBeat has to offer. de C.V., GlobalSantaFe Drilling Operations Inc., GlobalSantaFe Drilling Services (North Sea) Limited, GlobalSantaFe Drilling Trinidad LLC, GlobalSantaFe Drilling Venezuela C.A., GlobalSantaFe Financial Services (Luxembourg) S.a.r.l., GlobalSantaFe Group Financing Limited Liability Company, GlobalSantaFe Holding Company (North Sea) Limited, GlobalSantaFe Hungary Services Limited Liability Company, GlobalSantaFe International Drilling Corporation, GlobalSantaFe International Drilling Inc., GlobalSantaFe International Services Inc., GlobalSantaFe Nederland B.V., GlobalSantaFe Offshore Services Inc., GlobalSantaFe Operations (Mexico) LLC, GlobalSantaFe Saudi Arabia Ltd., GlobalSantaFe Services (BVI) Inc., GlobalSantaFe Services Netherlands B.V., GlobalSantaFe Servicios de Venezuela C.A., GlobalSantaFe South America LLC, GlobalSantaFe Tampico S. de R.L. In many ways, the market's action of repricing the offshore . The analyst urged Transocean to use the current market crisis to address these issues with its customers. Transocean Ltd.'s (NYSE:RIG) Intrinsic Value Is Potentially 45% Above Its Share Price, Transocean Ltd. Above 1 means it assets are greater than its liabilities. Receive RIG Stock News and Ratings via Email, March 4, 2023|Legacy Research (Affiliate) (Ad), Market Wizard who predicted all indexes would be negative in 2022 shares shocking new forecast, February 24, 2023|americanbankingnews.com. During the same period in the previous year, the company posted ($0.19) EPS. Since then, RIG stock has increased by 64.7% and is now trading at $7.51. See rankings and related performance below. In this example, we are using the consensus earnings estimate for the Current Fiscal Year (F1). 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 Indonesia, Platform Capital N.V., Platform Financial N.V., Primelead Limited, R&B Falcon (A) Pty Ltd, R&B Falcon (Caledonia) Limited, R&B Falcon (M) Sdn. The Price to Sales ratio or P/S is calculated as price divided by sales. Earnings estimate revisions are the most important factor influencing stocks prices. Bhd., R&B Falcon (U.K.) Limited, R&B Falcon B.V., R&B Falcon Deepwater (UK) Limited, R&B Falcon Drilling Co. LLC, R&B Falcon Exploration Co. LLC, R&B Falcon International Energy Services B.V., RBF Rig Corporation LLC, Ranger Insurance Limited, Reading & Bates Coal Co. LLC, SDS Offshore Limited, Safemal Drilling Sdn. Upon completion of the merger, Transoceans and Ocean Rigs shareholders will own approximately 79% and approximately 21%, respectively, of the combined company. The PEG ratio is the P/E ratio divided by its growth rate. Real-time analyst ratings, insider transactions, earnings data, and more. The company's average rating score is 2.50, and is based on 4 buy ratings, 4 hold ratings, and no sell ratings. The company's mobile offshore drilling. It measures a company's ability to pay short-term obligations. Copyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. By adding our high-specification floaters to Transocean's industry-leading fleet, the combined company will have the offshore industrys largest and most technically capable fleet of ultra-deepwater and harsh environment floaters. 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). Transocean Inc. (RIG) and GlobalSantaFe Corp. (GSF) said Monday they will merge in an all-stock deal. See what's happening in the market right now with MarketBeat's real-time news feed. Transocean-GlobalSantaFe Merger. Some of the items you'll see in this category might look very familiar, while other items might be quite new to some. Transocean was founded in 1926 and is based in Steinhausen, Switzerland. This includes measuring aspects of the Income Statement, Statement of Cash Flows, the Balance Sheet, and more. For one, part of trading is being able to get in and out of a stock easily. Sandro Thoma Transocean Ltd. . There's also a VGM Score ('V' for Value, 'G' for Growth and 'M' for Momentum), which combines the weighted average of the individual style scores into one score. The Growth Scorecard table also displays the values for its respective Industry along with the values and Growth Score of its three closest peers. For example, a company with a P/E ratio of 25 and a growth rate of 20% would have a PEG ratio of 1.25 (25 / 20 = 1.25). 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. By creating a free account, you agree to our, Closing prices for crude oil, gold and other commodities, In Britain, warm hubs emerge to beat soaring energy costs, In Chicago, adapting electric buses to winters challenges, Global race to boost electric vehicle range in cold weather, Ukraine ally Kallas fights for reelection in Estonia vote, How major US stock indexes fared Friday 3/3/2023, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges, Chief Financial Officer & Executive Vice President, Chief Administrative & Information Officer, EVP.

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