Rowan Companies PLC Price Target Lowered to $36.00 at Jefferies Group (RDC)
Research analysts at Jefferies Group reduced their target price on shares of Rowan Companies PLC (NYSE:RDC) from $37.00 to $36.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock. Jefferies Group’s price target points to a potential upside of 24.48% from the stock’s previous close.
RDC has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Rowan Companies PLC in a research note on Monday. They now have a $33.00 price target on the stock, down previously from $34.00. Separately, analysts at Raymond James cut their price target on shares of Rowan Companies PLC from $35.00 to $34.00 in a research note on Monday, July 21st. Finally, 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, July 21st. They now have a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Rowan Companies PLC currently has an average rating of “Hold” and a consensus price target of $36.63.
Rowan Companies PLC (NYSE:RDC) traded down 0.10% on Thursday, hitting $28.79. 853,118 shares of the company’s stock traded hands. Rowan Companies PLC has a 1-year low of $28.77 and a 1-year high of $38.65. The stock’s 50-day moving average is $31.39 and its 200-day moving average is $31.68. The company has a market cap of $3.580 billion and a P/E ratio of 14.68. Rowan Companies PLC also was the target of some unusual options trading activity on Wednesday. Traders bought 1,006 call options on the stock. This is an increase of 144% compared to the average volume of 412 call options.
Rowan Companies PLC (NYSE:RDC) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.09. The company had revenue of $422.90 million for the quarter, compared to the consensus estimate of $416.20 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Rowan Companies PLC will post $2.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 26th. Investors of record on Monday, August 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, August 7th.
Rowan Companies plc, formerly Rowan Companies, Inc, is a provider of international and domestic offshore contract drilling services.
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