Equities research analysts expect Rowan Companies PLC (NYSE:RDC) to post $278.34 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Rowan Companies PLC’s earnings, with the lowest sales estimate coming in at $269.30 million and the highest estimate coming in at $290.30 million. Rowan Companies PLC reported sales of $379.40 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 26.6%. The business is expected to announce its next earnings report on Tuesday, November 7th.

On average, analysts expect that Rowan Companies PLC will report full-year sales of $278.34 million for the current fiscal year, with estimates ranging from $1.10 billion to $1.26 billion. For the next year, analysts anticipate that the business will post sales of $910.37 million per share, with estimates ranging from $828.30 million to $1.04 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Rowan Companies PLC.

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

A number of analysts recently commented on the stock. Jefferies Group LLC set a $15.00 target price on shares of Rowan Companies PLC and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Barclays PLC reiterated a “hold” rating and issued a $14.00 target price on shares of Rowan Companies PLC in a research note on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $15.00 target price on shares of Rowan Companies PLC in a research note on Thursday, June 22nd. Seaport Global Securities cut shares of Rowan Companies PLC from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $12.00 to $10.00 in a research note on Wednesday, June 21st. Finally, Nomura lowered their target price on shares of Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.37.

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Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Rowan Companies PLC by 30.3% in the second quarter. BlackRock Inc. now owns 14,315,633 shares of the oil and gas company’s stock valued at $146,590,000 after buying an additional 3,327,747 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Rowan Companies PLC by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,615,408 shares of the oil and gas company’s stock valued at $165,387,000 after buying an additional 477,442 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Rowan Companies PLC by 19.5% in the first quarter. AQR Capital Management LLC now owns 5,702,609 shares of the oil and gas company’s stock valued at $88,847,000 after buying an additional 931,612 shares during the last quarter. State Street Corp raised its stake in shares of Rowan Companies PLC by 24.1% in the second quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock valued at $52,005,000 after buying an additional 986,257 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Rowan Companies PLC by 145.7% in the second quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock valued at $32,274,000 after buying an additional 1,869,194 shares during the last quarter.

Rowan Companies PLC (RDC) opened at 9.25 on Thursday. The firm’s market capitalization is $1.17 billion. The stock’s 50 day moving average is $10.82 and its 200 day moving average is $13.76. Rowan Companies PLC has a one year low of $9.19 and a one year high of $21.68.

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

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