Rowan Companies PLC PT Lowered to $32.00 (RDC)
Equities research analysts at Susquehanna decreased their target price on shares of Rowan Companies PLC (NYSE:RDC) from $34.00 to $32.00 in a research note issued to investors on Thursday. Susquehanna’s price objective would suggest a potential upside of 10.65% from the stock’s previous close.
Shares of Rowan Companies PLC (NYSE:RDC) traded down 0.10% on Thursday, hitting $28.79. The stock had a trading volume of 853,117 shares. Rowan Companies PLC has a 52-week low of $28.77 and a 52-week high of $38.65. The stock has a 50-day moving average of $31.39 and a 200-day moving average of $31.68. The company has a market cap of $3.580 billion and a price-to-earnings ratio of 14.68. Rowan Companies PLC also was the target of unusually large options trading on Wednesday. Stock investors acquired 1,006 call options on the stock. This represents an increase of 144% compared to the typical daily volume of 412 call options.
Rowan Companies PLC (NYSE:RDC) last released its 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. Analysts expect that Rowan Companies PLC will post $2.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 26th. Investors of record on Monday, August 11th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Thursday, August 7th.
RDC has been the subject of a number of other recent research reports. Analysts at Jefferies Group cut their price target on shares of Rowan Companies PLC from $37.00 to $36.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $36.63.
Rowan Companies plc, formerly Rowan Companies, Inc, is a provider of international and domestic offshore contract drilling services.
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