Shares of Rowan Companies PLC (NYSE:RDC) have earned an average rating of “Hold” from the twenty-five research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $16.55.

Several analysts recently weighed in on the company. ValuEngine lowered Rowan Companies from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. BMO Capital Markets set a $12.00 price target on Rowan Companies and gave the company a “hold” rating in a report on Tuesday, October 17th. FBR & Co restated a “buy” rating on shares of Rowan Companies in a report on Thursday, October 19th. BidaskClub upgraded Rowan Companies from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Cowen set a $10.00 price target on Rowan Companies and gave the company a “hold” rating in a report on Wednesday, October 18th.

Hedge funds have recently added to or reduced their stakes in the business. Wedbush Securities Inc. purchased a new stake in Rowan Companies in the third quarter worth $135,000. Smith Salley & Associates purchased a new stake in Rowan Companies in the third quarter worth $146,000. LMR Partners LLP purchased a new stake in Rowan Companies in the third quarter worth $165,000. Sciencast Management LP increased its stake in Rowan Companies by 10.0% in the second quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,190 shares during the period. Finally, Pacad Investment Ltd. purchased a new stake in Rowan Companies in the second quarter worth $138,000.

Rowan Companies (NYSE RDC) traded up $0.16 during trading hours on Monday, reaching $14.27. The company had a trading volume of 2,646,000 shares, compared to its average volume of 3,398,119. Rowan Companies has a one year low of $9.02 and a one year high of $21.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.80 and a current ratio of 5.80.

Rowan Companies (NYSE:RDC) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.26. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The company had revenue of $291.60 million for the quarter, compared to analyst estimates of $281.51 million. During the same quarter in the prior year, the firm posted $0.30 EPS. Rowan Companies’s quarterly revenue was down 23.1% compared to the same quarter last year. sell-side analysts forecast that Rowan Companies will post -0.67 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/11/rowan-companies-plc-rdc-given-consensus-rating-of-hold-by-analysts-2.html.

About Rowan Companies

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 (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.