Transocean (NYSE: RIG) is expected to report Q4 earnings on March 4. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Transocean's revenues will compress -1.7% and EPS will increase 247.8%.

The average estimate for revenue is $2.38 billion. On the bottom line, the average EPS estimate is $0.80.

Revenue details
 Last quarter, Transocean logged revenue of $2.44 billion. GAAP reported sales were 23% higher than the prior-year quarter's $1.99 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $1.37. GAAP EPS were -$1.06 for Q3 versus -$0.10 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 45.2%, much better than the prior-year quarter. Operating margin was 30.9%, much better than the prior-year quarter. Net margin was -15.6%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $9.69 billion. The average EPS estimate is $3.52.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Transocean is outperform, with an average price target of $59.80.

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