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.

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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.

The Fly

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

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