Rowan Companies PLC (NYSE:RDC)‘s stock had its “sell” rating reaffirmed by Royal Bank Of Canada in a research report issued to clients and investors on Thursday. They currently have a $13.50 target price on the oil and gas company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 18.63% from the company’s previous close.

Other analysts have also issued research reports about the company. Jefferies Group LLC set a $15.00 target price on Rowan Companies PLC and gave the stock a “hold” rating in a report on Tuesday, June 6th. Seaport Global Securities upgraded Rowan Companies PLC from a “sell” rating to a “neutral” rating in a report on Thursday. BMO Capital Markets reiterated a “hold” rating and set a $15.00 target price on shares of Rowan Companies PLC in a report on Thursday, June 22nd. Fearnley Fonds upgraded Rowan Companies PLC to a “buy” rating in a report on Friday, April 28th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $21.00 target price on shares of Rowan Companies PLC in a report on Friday, April 21st. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $16.77.

Shares of Rowan Companies PLC (NYSE:RDC) traded down 3.64% on Thursday, hitting $11.38. The stock had a trading volume of 3,844,717 shares. The stock has a market capitalization of $1.43 billion, a PE ratio of 6.94 and a beta of 1.75. Rowan Companies PLC has a one year low of $9.74 and a one year high of $21.68. The firm’s 50 day moving average is $11.26 and its 200-day moving average is $14.94.

Rowan Companies PLC (NYSE:RDC) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $374.30 million during the quarter, compared to the consensus estimate of $358.01 million. Rowan Companies PLC had a net margin of 12.12% and a return on equity of 2.95%. The business’s revenue for the quarter was down 25.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. Equities research analysts expect that Rowan Companies PLC will post ($1.03) earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Royal Bank Of Canada Reiterates “Sell” Rating for Rowan Companies PLC (RDC)” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/07/20/royal-bank-of-canada-reiterates-sell-rating-for-rowan-companies-plc-rdc.html.

A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Rowan Companies PLC by 4,558.9% in the first quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock worth $171,191,000 after buying an additional 10,752,038 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Rowan Companies PLC by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,615,408 shares of the oil and gas company’s stock worth $165,387,000 after buying an additional 477,442 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Rowan Companies PLC by 19.5% in the first quarter. AQR Capital Management LLC now owns 5,702,609 shares of the oil and gas company’s stock worth $88,847,000 after buying an additional 931,612 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Rowan Companies PLC by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 2,330,321 shares of the oil and gas company’s stock worth $36,306,000 after buying an additional 111,480 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in shares of Rowan Companies PLC by 30.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,014,830 shares of the oil and gas company’s stock worth $31,391,000 after buying an additional 467,760 shares in the last quarter.

About Rowan Companies PLC

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.

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

Receive News & Ratings for Rowan Companies PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies PLC and related companies with MarketBeat.com's FREE daily email newsletter.