Rowan Companies PLC (RDC) Stock Rating Upgraded by Seaport Global Securities
Rowan Companies PLC (NYSE:RDC) was upgraded by research analysts at Seaport Global Securities from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other equities research analysts have also commented on RDC. Bank of America Corporation lowered shares of Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. ValuEngine downgraded shares of Rowan Companies PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub downgraded shares of Rowan Companies PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. BMO Capital Markets reissued a “hold” rating and issued a $15.00 price objective on shares of Rowan Companies PLC in a research report on Thursday, June 22nd. Finally, Tudor Pickering initiated coverage on shares of Rowan Companies PLC in a research report on Thursday, March 23rd. They issued a “hold” rating for the company. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.11.
Shares of Rowan Companies PLC (NYSE RDC) opened at 11.81 on Thursday. The stock’s 50 day moving average price is $11.26 and its 200-day moving average price is $14.94. Rowan Companies PLC has a 12-month low of $9.74 and a 12-month high of $21.68. The company has a market cap of $1.49 billion, a PE ratio of 7.20 and a beta of 1.75.
Rowan Companies PLC (NYSE:RDC) last released its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $374.30 million for the quarter, compared to the consensus estimate of $358.01 million. During the same period last year, the company earned $0.98 earnings per share. Rowan Companies PLC’s revenue for the quarter was down 25.2% compared to the same quarter last year. On average, equities research analysts forecast that Rowan Companies PLC will post ($1.03) earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC increased its position in shares of Rowan Companies PLC by 24.8% in the second quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 2,050 shares during the period. Neuberger Berman Group LLC increased 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 worth $159,000 after buying an additional 55 shares during the last quarter. Renaissance Group LLC purchased a new position in Rowan Companies PLC during the first quarter worth about $163,000. Meeder Asset Management Inc. purchased a new position in Rowan Companies PLC during the first quarter worth about $189,000. Finally, Parkwood LLC purchased a new position in Rowan Companies PLC during the first quarter worth about $198,000.
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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