Transocean (NYSE:RIG) is expected to report Q2 earnings before market open Wednesday, August 6, with a conference call scheduled for 10:00 a.m. ET.
Analysts are looking for EPS of $3.23 on revenue of $3.05B. The consensus range is $2.70 to $3.79 for EPS, and $2.9B to $3.2B for revenue, according to First Call. Last quarter, Transocean outperformed its estimates handily, reporting Q1 EPS of $3.71 vs. a consensus of $3.34, and Q1 revenue of $3.11B vs. a consensus of $3.05B.
On July 16, Oppenheimer wrote that it would continue to buy shares of Transocean, one of its Top Picks, as it has an attractive valuation, a strong deepwater profile and strong free cash flow. Barron's Magazine also noted, on July 29, that Transocean had a near record-low valuation, and said, "unless there is a drastic downturn in the global economy, shares of Transocean and Tidewater (NYSE:TDW) should leap ahead with solid earnings growth."