Equities analysts expect Rowan Companies PLC (NYSE:RDC) to announce $289.79 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Rowan Companies PLC’s earnings, with estimates ranging from $260.50 million to $313.60 million. Rowan Companies PLC posted sales of $611.90 million in the same quarter last year, which would indicate a negative year over year growth rate of 52.6%. The firm is expected to report its next quarterly earnings results on Tuesday, August 1st.

On average, analysts expect that Rowan Companies PLC will report full year sales of $289.79 million for the current fiscal year, with estimates ranging from $1.00 billion to $1.26 billion. For the next year, analysts anticipate that the firm will report sales of $918.89 million per share, with estimates ranging from $679.21 million to $1.04 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Rowan Companies PLC.

Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings data on Tuesday, May 2nd. The oil and gas company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.06. Rowan Companies PLC had a net margin of 12.12% and a return on equity of 2.95%. The firm had revenue of $374.30 million during the quarter, compared to analyst estimates of $358.01 million. During the same quarter in the previous year, the business posted $0.98 earnings per share. Rowan Companies PLC’s revenue for the quarter was down 25.2% compared to the same quarter last year.

RDC has been the subject of several analyst reports. Fearnley Fonds upgraded shares of Rowan Companies PLC to a “buy” rating in a research note on Friday, April 28th. Clarkson Capital upgraded shares of Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, May 30th. ValuEngine upgraded shares of Rowan Companies PLC from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Barclays PLC decreased their target price on shares of Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, May 1st. Finally, Jefferies Group LLC set a $15.00 price target on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Tuesday, June 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.96.

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Institutional investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its position in Rowan Companies PLC by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 55 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its position in Rowan Companies PLC by 0.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,500 shares of the oil and gas company’s stock valued at $226,000 after buying an additional 100 shares in the last quarter. State Treasurer State of Michigan raised its position in Rowan Companies PLC by 1.0% in the first quarter. State Treasurer State of Michigan now owns 51,000 shares of the oil and gas company’s stock valued at $795,000 after buying an additional 500 shares in the last quarter. Amalgamated Bank raised its position in Rowan Companies PLC by 3.1% in the first quarter. Amalgamated Bank now owns 19,915 shares of the oil and gas company’s stock valued at $310,000 after buying an additional 590 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Rowan Companies PLC by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,948 shares of the oil and gas company’s stock valued at $685,000 after buying an additional 600 shares in the last quarter.

Shares of Rowan Companies PLC (RDC) traded down 1.21% during midday trading on Thursday, hitting $10.57. 1,948,658 shares of the stock were exchanged. The firm has a market cap of $1.33 billion, a P/E ratio of 6.45 and a beta of 1.75. Rowan Companies PLC has a 12-month low of $10.04 and a 12-month high of $21.68. The firm has a 50 day moving average of $12.25 and a 200 day moving average of $15.83.

Rowan Companies PLC Company Profile

Rowan Companies plc is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.

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Earnings History and Estimates for Rowan Companies PLC (NYSE:RDC)

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