Transocean LTD (NYSE:RIG)
May 11th, 2018
Transocean LTD fell $0.40 today, down 2.98%, closing at $13.02. Despite the drop in price it hit a new 52 week high of $13.49. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.26.
RIG was outperformed by the rest of the Energy sector which went down only 0.10%.
Results from 29 analysts, indicates that Transocean LTD might go up somewhat (1.55%), while Finbox has calculated (with medium uncertainty) a fair value price of $11.24.
Transocean LTD Info
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups. The company serves government-controlled oil companies and independent oil companies. Transocean Ltd. was founded in 1953 and is based in Steinhausen, Switzerland.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Transocean LTD’s score is 0.26) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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