Posted 2/14/2024, 10:50:14 PM
Transocean Stock Stagnant as Broader Markets Rally; Q4 Earnings and Business Outlook Remain Clouded
- Transocean (RIG) stock closed flat while broader markets gained
- RIG has lagged the S&P 500 and other major indices recently
- RIG is expected to report earnings on February 19th, with projections of a loss per share but higher revenue
- Analyst estimate revisions for RIG have trended lower recently, signaling pessimism about near-term business outlook
- In valuation terms, RIG trades at a premium to industry peers based on forward P/E ratio