Rowan Companies PLC Downgraded to “Neutral” at UBS AG (RDC)
Rowan Companies PLC (NYSE:RDC) was downgraded by equities research analysts at UBS AG from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $43.00 price target on the stock, up from their previous price target of $10.00. UBS AG’s price target would indicate a potential upside of 31.18% from the company’s current price.
Shares of Rowan Companies PLC (NYSE:RDC) traded down 2.61% on Thursday, hitting $32.78. 4,500,213 shares of the company’s stock traded hands. Rowan Companies PLC has a one year low of $30.21 and a one year high of $38.65. The stock’s 50-day moving average is $33.85 and its 200-day moving average is $35.63. The company has a market cap of $4.072 billion and a P/E ratio of 16.28.
Rowan Companies PLC (NYSE:RDC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters 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 prior 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. Analysts expect that Rowan Companies PLC will post $1.97 EPS for the current fiscal year.
A number of other firms have also recently commented on RDC. Analysts at Tudor Pickering upgraded shares of Rowan Companies PLC from a “hold” rating to an “accumulate” rating in a research note to investors on Wednesday. Separately, analysts at Cowen and Company cut their price target on shares of Rowan Companies PLC from $37.00 to $35.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $41.00.
Rowan Companies plc, formerly Rowan Companies, Inc, is a provider of international and domestic offshore contract drilling services.
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