Rowan Companies PLC (RDC) Given Consensus Rating of “Hold” by Analysts
Shares of Rowan Companies PLC (NYSE:RDC) have earned an average rating of “Hold” from the twenty-five ratings firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.04.
A number of equities research analysts recently commented on RDC shares. Jefferies Group LLC reiterated a “hold” rating and set a $12.00 price target (down from $15.00) on shares of Rowan Companies PLC in a report on Tuesday, July 18th. BMO Capital Markets set a $12.00 price objective on shares of Rowan Companies PLC and gave the stock a “hold” rating in a report on Tuesday, October 17th. ValuEngine upgraded shares of Rowan Companies PLC from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Seaport Global Securities upgraded shares of Rowan Companies PLC from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $11.00 in a report on Thursday, July 20th. Finally, Royal Bank Of Canada set a $14.00 price objective on shares of Rowan Companies PLC and gave the stock a “hold” rating in a report on Sunday, October 8th.
Shares of Rowan Companies PLC (RDC) traded down 0.83% during trading on Friday, reaching $13.10. 3,730,546 shares of the company were exchanged. Rowan Companies PLC has a one year low of $9.02 and a one year high of $21.68. The stock has a 50-day moving average price of $12.08 and a 200-day moving average price of $12.03. The stock’s market capitalization is $1.65 billion.
Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. During the same period in the prior year, the business posted $0.75 EPS. The firm’s revenue was down 47.7% compared to the same quarter last year. Analysts forecast that Rowan Companies PLC will post ($0.93) EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC grew its position in 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 valued at $159,000 after purchasing an additional 55 shares during the last quarter. LS Investment Advisors LLC grew its position in 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 valued at $106,000 after purchasing an additional 2,050 shares during the last quarter. Sciencast Management LP grew its position in 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 valued at $134,000 after purchasing an additional 1,190 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in Rowan Companies PLC during the 2nd quarter valued at about $138,000. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in Rowan Companies PLC during the 2nd quarter valued at about $143,000.
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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