FY2017 EPS Estimates for Rowan Companies PLC Lifted by Analyst (RDC)
Rowan Companies PLC (NYSE:RDC) – Equities research analysts at Jefferies Group lifted their FY2017 EPS estimates for Rowan Companies PLC in a research report issued to clients and investors on Monday. Jefferies Group analyst E. Royes now expects that the oil and gas company will earn ($0.65) per share for the year, up from their previous estimate of ($0.80). Jefferies Group currently has a “Hold” rating and a $12.00 target price on the stock. Jefferies Group also issued estimates for Rowan Companies PLC’s FY2018 earnings at ($2.45) EPS.
Other equities research analysts also recently issued research reports about the stock. Fearnley Fonds upgraded shares of Rowan Companies PLC to a “buy” rating in a research note on Friday, April 28th. Clarkson Capital upgraded shares of Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, May 30th. ValuEngine upgraded shares of Rowan Companies PLC from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. TheStreet downgraded shares of Rowan Companies PLC from a “c” rating to a “d” rating in a research note on Wednesday, August 2nd. Finally, Barclays PLC decreased their target price on shares of Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, May 1st. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.37.
Rowan Companies PLC (RDC) opened at 9.59 on Wednesday. The firm’s 50 day moving average price is $10.85 and its 200-day moving average price is $13.80. Rowan Companies PLC has a 1-year low of $9.21 and a 1-year high of $21.68. The stock’s market cap is $1.21 billion.
Rowan Companies PLC (NYSE:RDC) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company’s revenue was down 47.7% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of 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 period. Sciencast Management LP raised its stake in shares of Rowan Companies PLC by 10.0% in the second quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock worth $134,000 after buying an additional 1,190 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Rowan Companies PLC during the second quarter worth about $138,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Rowan Companies PLC during the second quarter worth about $143,000. Finally, Neuberger Berman Group LLC raised its stake in shares of 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 during the period.
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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