Rowan Companies PLC Forecasted to Earn Q2 2017 Earnings of ($0.36) Per Share (NYSE:RDC)
Rowan Companies PLC (NYSE:RDC) – Equities researchers at Seaport Global Securities issued their Q2 2017 earnings estimates for Rowan Companies PLC in a research report issued on Thursday. Seaport Global Securities analyst M. Urban expects that the oil and gas company will post earnings of ($0.36) per share for the quarter. Seaport Global Securities has a “Neutral” rating and a $11.00 price objective on the stock. Seaport Global Securities also issued estimates for Rowan Companies PLC’s Q3 2017 earnings at ($0.39) EPS, Q4 2017 earnings at ($0.36) EPS, FY2017 earnings at ($1.00) EPS, Q1 2018 earnings at ($0.36) EPS, Q2 2018 earnings at ($0.53) EPS, Q3 2018 earnings at ($0.58) EPS, Q4 2018 earnings at ($0.69) EPS, FY2018 earnings at ($2.16) EPS, Q1 2019 earnings at ($0.78) EPS, Q2 2019 earnings at ($0.77) EPS and FY2019 earnings at ($3.06) EPS.
Rowan Companies PLC (NYSE:RDC) last posted its earnings results on Tuesday, May 2nd. The oil and gas company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.06. Rowan Companies PLC had a return on equity of 2.95% and a net margin of 12.12%. The firm had revenue of $374.30 million for the quarter, compared to analysts’ expectations of $358.01 million. During the same quarter last year, the company posted $0.98 EPS. The firm’s revenue was down 25.2% on a year-over-year basis.
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Other equities analysts have also issued reports about the stock. Jefferies Group LLC reissued a “hold” rating and set a $17.00 price objective (down from $20.00) on shares of Rowan Companies PLC in a report on Tuesday, April 11th. BMO Capital Markets set a $15.00 price objective on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Tuesday, April 18th. Credit Suisse Group reissued a “hold” rating and set a $21.00 price objective on shares of Rowan Companies PLC in a report on Friday, April 21st. Fearnley Fonds raised shares of Rowan Companies PLC to a “buy” rating in a report on Friday, April 28th. Finally, Barclays PLC cut their price objective on shares of Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, May 1st. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.82.
Rowan Companies PLC (RDC) opened at 11.17 on Monday. Rowan Companies PLC has a 12-month low of $9.74 and a 12-month high of $21.68. The firm’s 50 day moving average price is $11.24 and its 200-day moving average price is $14.91. The stock has a market cap of $1.41 billion, a P/E ratio of 6.81 and a beta of 1.75.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDC. LS Investment Advisors LLC boosted its position in 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 worth $106,000 after buying an additional 2,050 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in Rowan Companies PLC during the second quarter worth approximately $143,000. Neuberger Berman Group LLC boosted its stake 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 in the last quarter. Renaissance Group LLC bought a new stake in Rowan Companies PLC during the first quarter worth approximately $163,000. Finally, Meeder Asset Management Inc. bought a new stake in Rowan Companies PLC during the first quarter worth approximately $189,000.
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.
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