Rowan Companies PLC (RDC) Set to Announce Earnings on Wednesday
Rowan Companies PLC (NYSE:RDC) is scheduled to be releasing its earnings data before the market opens on Wednesday, August 2nd. Analysts expect Rowan Companies PLC to post earnings of ($0.30) per share for the quarter.
Rowan Companies PLC (NYSE:RDC) last released its quarterly 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 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 the consensus estimate of $358.01 million. During the same quarter in the prior year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was down 25.2% on a year-over-year basis. On average, analysts expect Rowan Companies PLC to post $-1.19 EPS for the current fiscal year and $-2.46 EPS for the next fiscal year.
Rowan Companies PLC (NYSE:RDC) traded up 1.63% during mid-day trading on Thursday, hitting $11.86. 2,121,806 shares of the stock were exchanged. Rowan Companies PLC has a 12-month low of $9.74 and a 12-month high of $21.68. The company has a 50 day moving average of $11.15 and a 200 day moving average of $14.67. The firm has a market cap of $1.50 billion, a P/E ratio of 7.23 and a beta of 1.75.
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A number of research firms recently weighed in on RDC. BidaskClub upgraded shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Bank of America Corporation lowered shares of Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a research note on Friday, June 30th. ValuEngine lowered shares of Rowan Companies PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Barclays PLC cut their target price on shares of Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, May 1st. Finally, Jefferies Group LLC restated a “hold” rating and set a $17.00 target price (down from $20.00) on shares of Rowan Companies PLC in a research note on Tuesday, April 11th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Rowan Companies PLC presently has an average rating of “Hold” and a consensus price target of $16.82.
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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