Rowan Companies PLC Price Target Lowered to $34.00 at Raymond James (RDC)
Equities research analysts at Raymond James dropped their price objective on shares of Rowan Companies PLC (NYSE:RDC) from $35.00 to $34.00 in a research note issued to investors on Monday. Raymond James’ price target suggests a potential upside of 9.64% from the stock’s previous close.
A number of other analysts have also recently weighed in on RDC. Analysts at Cowen and Company cut their price target on shares of Rowan Companies PLC from $32.00 to $30.00 in a research note on Monday. They now have a “market perform” rating on the stock. Separately, analysts at BMO Capital Markets upgraded shares of Rowan Companies PLC from an “underperform” rating to a “market perform” rating in a research note on Tuesday, July 15th. They now have a $32.00 price target on the stock, up previously from $27.00. Finally, analysts at Goldman Sachs raised their price target on shares of Rowan Companies PLC from $32.50 to $33.00 in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $37.28.
Rowan Companies PLC (NYSE:RDC) traded up 0.06% during mid-day trading on Monday, hitting $31.03. The stock had a trading volume of 1,477,835 shares. Rowan Companies PLC has a 1-year low of $29.50 and a 1-year high of $38.65. The stock has a 50-day moving average of $31.76 and a 200-day moving average of $31.96. The company has a market cap of $3.859 billion and a P/E ratio of 15.80.
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 $2.24 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.