Rowan Companies PLC (NYSE:RDC) – Seaport Global Securities cut their Q3 2017 earnings estimates for shares of Rowan Companies PLC in a research note issued on Thursday. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will post earnings of ($0.43) per share for the quarter, down from their previous forecast of ($0.39). Seaport Global Securities currently has a “Neutral” rating and a $11.00 target price on the stock. Seaport Global Securities also issued estimates for Rowan Companies PLC’s Q4 2017 earnings at ($0.28) EPS, FY2017 earnings at ($0.88) EPS, Q1 2018 earnings at ($0.35) EPS, Q2 2018 earnings at ($0.52) EPS, Q4 2018 earnings at ($0.70) EPS, FY2018 earnings at ($2.15) EPS, Q1 2019 earnings at ($0.80) EPS, Q2 2019 earnings at ($0.79) EPS and FY2019 earnings at ($3.15) EPS.

Several other research analysts have also issued reports on RDC. Jefferies Group LLC restated a “hold” rating and issued a $17.00 price target (down from $20.00) on shares of Rowan Companies PLC in a research report on Tuesday, April 11th. BMO Capital Markets set a $15.00 price target on Rowan Companies PLC and gave the company a “hold” rating in a report on Tuesday, April 18th. Credit Suisse Group restated a “hold” rating and issued a $21.00 price target on shares of Rowan Companies PLC in a report on Friday, April 21st. Fearnley Fonds upgraded Rowan Companies PLC to a “buy” rating in a report on Friday, April 28th. Finally, Barclays PLC cut their price target on 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, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.37.

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Shares of Rowan Companies PLC (NYSE:RDC) opened at 11.45 on Monday. The stock’s 50 day moving average price is $11.13 and its 200 day moving average price is $14.40. The stock’s market capitalization is $1.45 billion. Rowan Companies PLC has a one year low of $9.74 and a one year high of $21.68.

Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The company’s revenue was down 47.7% on a year-over-year basis.

A number of hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can increased its stake in Rowan Companies PLC by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 109,692 shares of the oil and gas company’s stock worth $1,707,000 after buying an additional 7,068 shares during the last quarter. Wright Investors Service Inc. increased its stake in Rowan Companies PLC by 31.8% in the first quarter. Wright Investors Service Inc. now owns 31,095 shares of the oil and gas company’s stock worth $484,000 after buying an additional 7,495 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Rowan Companies PLC by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,948 shares of the oil and gas company’s stock worth $685,000 after buying an additional 600 shares during the last quarter. Breton Hill Capital Ltd. increased its stake in Rowan Companies PLC by 229.5% in the first quarter. Breton Hill Capital Ltd. now owns 51,530 shares of the oil and gas company’s stock worth $803,000 after buying an additional 91,332 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in Rowan Companies PLC by 0.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,500 shares of the oil and gas company’s stock worth $226,000 after buying an additional 100 shares during the last quarter.

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.

Earnings History and Estimates for Rowan Companies PLC (NYSE:RDC)

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