Rowan Companies PLC Price Target Cut to $35.00 by Analysts at Cowen and Company (RDC)
Research analysts at Cowen and Company dropped their target price on shares of Rowan Companies PLC (NYSE:RDC) from $37.00 to $35.00 in a report released on Tuesday, Analyst Ratings News reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target would indicate a potential upside of 6.87% from the company’s current price.
Shares of Rowan Companies PLC (NYSE:RDC) traded down 0.31% during mid-day trading on Tuesday, hitting $32.65. 480,500 shares of the company’s stock traded hands. Rowan Companies PLC has a 1-year low of $30.21 and a 1-year high of $38.65. The stock’s 50-day moving average is $33.96 and its 200-day moving average is $35.64. The company has a market cap of $4.056 billion and a P/E ratio of 15.84.
Rowan Companies PLC (NYSE:RDC) last announced its earnings results on Tuesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.01. The company had revenue of $382.80 million for the quarter, compared to the consensus estimate of $382.90 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that Rowan Companies PLC will post $1.97 earnings per share for the current fiscal year.
A number of other firms have also recently commented on RDC. Analysts at Jefferies Group cut their EPS estimates on shares of Rowan Companies PLC in a research note on Thursday. They now have a “buy” rating and a $41.00 price target on the stock. Separately, analysts at ISI Group downgraded shares of Rowan Companies PLC from a “strong-buy” rating to a “buy” rating in a research note to investors on Monday, January 13th. Finally, analysts at RBC Capital upgraded shares of Rowan Companies PLC from a “sector perform” rating to an “outperform” rating in a research note to investors on Wednesday, January 8th. They now have a $40.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Rowan Companies PLC presently has an average rating of “Buy” and an average price target of $40.88.
Rowan Companies plc, formerly Rowan Companies, Inc, is a provider of international and domestic offshore contract drilling services.
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