Why Is Transocean Stock Diving On Tuesday?
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Asset Sales and Financial Impact: Transocean Ltd has entered into agreements to sell two drilling assets for a total of $342 million, which will incur a non-cash charge of approximately $630-$645 million due to asset impairment in the third quarter.
Stock Performance and Debt Situation: Following the announcements, RIG shares fell by 9.8% to $4.275, while the company's long-term debt remains high at $6.78 billion, with recent earnings also missing estimates.
Analyst Views on XES
Wall Street analysts forecast XES stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XES is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 95.730
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Current: 95.730
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
