Rowan Companies PLC (NYSE:RDC) has been given a consensus rating of “Hold” by the twenty-seven analysts that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $17.76.
A number of equities analysts have weighed in on the company. BMO Capital Markets restated a “hold” rating and issued a $15.00 target price on shares of Rowan Companies PLC in a research note on Thursday. BidaskClub lowered Rowan Companies PLC from a “sell” rating to a “strong sell” rating in a research note on Friday. Jefferies Group LLC set a $20.00 target price on Rowan Companies PLC and gave the stock a “hold” rating in a research note on Saturday, February 25th. Seaport Global Securities lowered Rowan Companies PLC from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $12.00 to $10.00 in a research note on Wednesday. Finally, Credit Suisse Group restated a “hold” rating and issued a $21.00 target price on shares of Rowan Companies PLC in a research note on Friday, April 21st.
Rowan Companies PLC (RDC) traded up 3.40% during mid-day trading on Monday, reaching $10.63. The company had a trading volume of 19,343,656 shares. The stock has a 50 day moving average price of $12.83 and a 200-day moving average price of $16.22. The stock has a market capitalization of $1.34 billion, a P/E ratio of 6.48 and a beta of 1.75. Rowan Companies PLC has a 12-month low of $10.04 and a 12-month high of $21.68.
Rowan Companies PLC (NYSE:RDC) last announced its earnings results on Tuesday, May 2nd. The oil and gas company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $374.30 million during the quarter, compared to the consensus estimate of $358.01 million. Rowan Companies PLC had a return on equity of 2.95% and a net margin of 12.12%. Rowan Companies PLC’s revenue was down 25.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. Equities analysts anticipate that Rowan Companies PLC will post ($0.99) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in Rowan Companies PLC during the first quarter valued at $659,000. Louisiana State Employees Retirement System boosted its stake in Rowan Companies PLC by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 31,700 shares of the oil and gas company’s stock valued at $494,000 after buying an additional 700 shares during the period. Searle & CO. acquired a new stake in Rowan Companies PLC during the fourth quarter valued at $1,047,000. Oregon Public Employees Retirement Fund boosted its stake in Rowan Companies PLC by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,948 shares of the oil and gas company’s stock valued at $685,000 after buying an additional 600 shares during the period. Finally, FMR LLC boosted its stake in Rowan Companies PLC by 0.7% in the fourth quarter. FMR LLC now owns 609,764 shares of the oil and gas company’s stock valued at $11,518,000 after buying an additional 4,065 shares during the period.
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About Rowan Companies PLC
Rowan Companies plc is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.
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