Rowan Companies PLC (NYSE:RDC) has been assigned a consensus rating of “Hold” from the twenty-six research firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $16.37.

A number of research analysts have recently issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $17.00 price target (down from $20.00) on shares of Rowan Companies PLC in a research note on Tuesday, April 11th. Credit Suisse Group reiterated a “hold” rating and set a $21.00 price target on shares of Rowan Companies PLC in a research note on Friday, April 21st. BMO Capital Markets set a $15.00 price target on shares of Rowan Companies PLC and gave the stock a “hold” rating in a research note on Tuesday, April 18th. Barclays PLC dropped their price target 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, Fearnley Fonds upgraded shares of Rowan Companies PLC to a “buy” rating in a research note on Friday, April 28th.

Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Rowan Companies PLC by 37.5% in the first quarter. Bank of Montreal Can now owns 97,520 shares of the oil and gas company’s stock valued at $1,518,000 after buying an additional 26,602 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Rowan Companies PLC by 4.4% in the first quarter. Capstone Asset Management Co. now owns 20,298 shares of the oil and gas company’s stock valued at $316,000 after buying an additional 850 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Rowan Companies PLC during the first quarter valued at about $659,000. Louisiana State Employees Retirement System increased its position in shares of Rowan Companies PLC by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 31,700 shares of the oil and gas company’s stock valued at $494,000 after buying an additional 700 shares during the last quarter. Finally, James Investment Research Inc. increased its position in shares of Rowan Companies PLC by 626.9% in the first quarter. James Investment Research Inc. now owns 116,302 shares of the oil and gas company’s stock valued at $1,812,000 after buying an additional 100,302 shares during the last quarter.

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Shares of Rowan Companies PLC (NYSE RDC) traded down 1.64% during midday trading on Tuesday, reaching $10.79. The company’s stock had a trading volume of 1,021,875 shares. The company has a 50 day moving average of $11.13 and a 200-day moving average of $14.40. The stock’s market capitalization is $1.36 billion. Rowan Companies PLC has a 52 week low of $9.74 and a 52 week high of $21.68.

Rowan Companies PLC (NYSE:RDC) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business had revenue of $320.20 million for the quarter, compared to analyst estimates of $296.87 million. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue was down 47.7% compared to the same quarter last year. Equities research analysts predict that Rowan Companies PLC will post ($0.90) earnings per share for the current year.

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)

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