Rowan Companies PLC Receives “Outperform” Rating from FBR Capital Markets (RDC)
Rowan Companies PLC (NYSE:RDC)‘s stock had its “outperform” rating reissued by stock analysts at FBR Capital Markets in a report issued on Tuesday. They currently have a $40.00 price target on the stock, down from their previous price target of $45.00. FBR Capital Markets’ target price points to a potential upside of 35.46% from the stock’s previous close.
A number of other firms have also recently commented on RDC. Analysts at Susquehanna cut their price target on shares of Rowan Companies PLC from $34.00 to $32.00 in a research note on Thursday, August 7th. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Rowan Companies PLC in a research note on Thursday, August 7th. They now have a $36.00 price target on the stock, down previously from $37.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Rowan Companies PLC in a research note on Monday, August 4th. They now have a $33.00 price target on the stock, down previously from $34.00. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.83.
Rowan Companies PLC (NYSE:RDC) traded up 1.38% on Tuesday, hitting $29.937. 427,590 shares of the company’s stock traded hands. Rowan Companies PLC has a 1-year low of $28.43 and a 1-year high of $38.65. The stock’s 50-day moving average is $30.46 and its 200-day moving average is $31.43. The company has a market cap of $3.727 billion and a price-to-earnings ratio of 18.89.
Rowan Companies PLC (NYSE:RDC) last released its earnings data on Wednesday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Rowan Companies PLC will post $2.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 26th. Stockholders 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 1.35%. 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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