Analysts Offer Predictions for Rowan Companies PLC’s Q1 2018 Earnings (RDC)
Rowan Companies PLC (NYSE:RDC) – Equities researchers at Capital One Financial Corp. issued their Q1 2018 earnings per share estimates for shares of Rowan Companies PLC in a research note issued to investors on Thursday. Capital One Financial Corp. analyst J. Gibney expects that the oil and gas company will post earnings of ($0.41) per share for the quarter. Capital One Financial Corp. also issued estimates for Rowan Companies PLC’s Q2 2018 earnings at ($0.48) EPS, Q3 2018 earnings at ($0.71) EPS and Q4 2018 earnings at ($0.96) EPS.
A number of other equities research analysts have also issued reports on RDC. BMO Capital Markets set a $12.00 target price on Rowan Companies PLC and gave the company a “hold” rating in a research report on Tuesday. Cowen and Company set a $10.00 price target on Rowan Companies PLC and gave the stock a “hold” rating in a research report on Wednesday. ValuEngine lowered Rowan Companies PLC from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. HSBC Holdings plc initiated coverage on Rowan Companies PLC in a research report on Thursday. They set a “buy” rating and a $16.80 price target on the stock. Finally, Zacks Investment Research raised Rowan Companies PLC from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.10.
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Shares of Rowan Companies PLC (RDC) traded down 0.719% during midday trading on Friday, reaching $13.115. The company’s stock had a trading volume of 2,927,979 shares. Rowan Companies PLC has a 12 month low of $9.02 and a 12 month high of $21.68. The firm’s market cap is $1.66 billion. The company has a 50-day moving average price of $11.99 and a 200-day moving average price of $12.05.
Rowan Companies PLC (NYSE:RDC) last announced its 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. The firm had revenue of $320.20 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $0.75 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC boosted its stake in shares of Rowan Companies PLC by 0.5% during the 1st quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 55 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Rowan Companies PLC by 24.8% during the 2nd quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock worth $106,000 after acquiring an additional 2,050 shares during the period. Sciencast Management LP boosted its stake in shares of Rowan Companies PLC by 10.0% during the 2nd quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,190 shares during the period. Pacad Investment Ltd. bought a new position in shares of Rowan Companies PLC during the 2nd quarter worth approximately $138,000. Finally, Prescott Group Capital Management L.L.C. bought a new position in shares of Rowan Companies PLC during the 2nd quarter worth approximately $143,000.
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.
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