Rowan Companies PLC (NYSE:RDC)‘s stock had its “buy” rating reiterated by B. Riley in a research report issued on Wednesday.

RDC has been the subject of a number of other reports. Nomura decreased their price objective on 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. Zacks Investment Research cut Rowan Companies PLC from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Cowen and Company set a $10.00 target price on Rowan Companies PLC and gave the stock a “hold” rating in a report on Wednesday, October 18th. HSBC Holdings plc began coverage on Rowan Companies PLC in a report on Thursday, October 19th. They set a “buy” rating and a $16.80 target price on the stock. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $15.00 target price on shares of Rowan Companies PLC in a report on Sunday, October 22nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. Rowan Companies PLC has an average rating of “Hold” and a consensus target price of $16.34.

Shares of Rowan Companies PLC (NYSE:RDC) traded down $0.43 during trading on Wednesday, hitting $14.08. The company had a trading volume of 2,932,778 shares, compared to its average volume of 3,750,000. The company has a quick ratio of 5.00, a current ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies PLC has a twelve month low of $9.02 and a twelve month high of $21.68.

Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.26. Rowan Companies PLC had a negative return on equity of 0.61% and a negative net margin of 4.76%. The business had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $281.51 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. equities research analysts anticipate that Rowan Companies PLC will post -0.82 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/11/04/rowan-companies-plcs-rdc-buy-rating-reiterated-at-b-riley.html.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Rowan Companies PLC by 26.7% during the second quarter. Rhumbline Advisers now owns 285,312 shares of the oil and gas company’s stock worth $2,922,000 after acquiring an additional 60,193 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Rowan Companies PLC by 21.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,051,500 shares of the oil and gas company’s stock worth $10,768,000 after acquiring an additional 186,754 shares in the last quarter. Sterling Capital Management LLC bought a new stake in Rowan Companies PLC during the second quarter worth about $922,000. FMR LLC raised its holdings in Rowan Companies PLC by 140.0% during the second quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock worth $16,800,000 after acquiring an additional 957,047 shares in the last quarter. Finally, Cipher Capital LP raised its holdings in Rowan Companies PLC by 354.2% during the second quarter. Cipher Capital LP now owns 135,249 shares of the oil and gas company’s stock worth $1,385,000 after acquiring an additional 105,474 shares in the last quarter.

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.

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

Receive News & Ratings for Rowan Companies PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies PLC and related companies with MarketBeat.com's FREE daily email newsletter.