Rowan Companies PLC’s (RDC) “Buy” Rating Reiterated at B. Riley
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.
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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.
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