Share on StockTwits

Rowan Companies PLC (NYSE:RDC) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 7,623,182 shares, an increase of 65.6% from the April 15th total of 4,602,448 shares, American Banking & Market News reports. Based on an average daily volume of 1,849,134 shares, the days-to-cover ratio is presently 4.1 days. Currently, 6.2% of the company’s stock are short sold.

RDC has been the subject of a number of recent research reports. Analysts at Jefferies Group cut their price target on shares of Rowan Companies PLC from $39.00 to $37.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Global Hunter Securities cut their price target on shares of Rowan Companies PLC from $33.00 to $31.00 in a research note on Wednesday, May 14th. Finally, analysts at Howard Weil cut their price target on shares of Rowan Companies PLC from $48.00 to $41.00 in a research note on Wednesday, May 7th. They now have a “sector outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Rowan Companies PLC presently has a consensus rating of “Buy” and an average target price of $38.71.

Rowan Companies PLC (NYSE:RDC) opened at 30.32 on Thursday. Rowan Companies PLC has a 52 week low of $29.50 and a 52 week high of $38.65. The stock’s 50-day moving average is $30.99 and its 200-day moving average is $32.98. The company has a market cap of $3.771 billion and a P/E ratio of 15.10.

Rowan Companies PLC (NYSE:RDC) last announced its earnings results on Tuesday, May 6th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.07. The company had revenue of $377.60 million for the quarter, compared to the consensus estimate of $375.53 million. During the same quarter last year, the company posted $0.55 earnings per share. Rowan Companies PLC’s revenue was down 4.2% compared to the same quarter last year. On average, analysts predict that Rowan Companies PLC will post $2.39 earnings per share for the current fiscal year.

Rowan Companies plc, formerly Rowan Companies, Inc, is a provider of international and domestic offshore contract drilling services.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.