Rowan Companies (NYSE:RDC) has been given a $16.00 price objective by equities research analysts at Jefferies Group in a report released on Thursday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Jefferies Group’s target price would indicate a potential downside of 6.98% from the company’s current price.
Several other research firms have also weighed in on RDC. ValuEngine upgraded shares of Rowan Companies from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. UBS Group increased their price objective on shares of Rowan Companies from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. B. Riley restated a “buy” rating on shares of Rowan Companies in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, October 17th. Finally, BMO Capital Markets set a $12.00 price target on shares of Rowan Companies and gave the company a “hold” rating in a research note on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $16.24.
Rowan Companies (NYSE:RDC) traded up $0.39 on Thursday, reaching $17.20. 2,377,662 shares of the company traded hands, compared to its average volume of 2,572,754. The firm has a market capitalization of $2,170.00, a price-to-earnings ratio of -33.73 and a beta of 1.89. Rowan Companies has a 52-week low of $9.02 and a 52-week high of $20.50. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.47.
Rowan Companies (NYSE:RDC) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.26. The firm had revenue of $291.60 million for the quarter, compared to analyst estimates of $281.51 million. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. Rowan Companies’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. equities analysts anticipate that Rowan Companies will post -0.62 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of RDC. BlackRock Inc. increased its stake in shares of Rowan Companies by 30.3% during the second quarter. BlackRock Inc. now owns 14,315,633 shares of the oil and gas company’s stock valued at $146,590,000 after acquiring an additional 3,327,747 shares during the period. Northern Trust Corp increased its stake in shares of Rowan Companies by 145.7% during the second quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock valued at $32,274,000 after acquiring an additional 1,869,194 shares during the period. Odey Asset Management Group Ltd acquired a new position in shares of Rowan Companies during the second quarter valued at approximately $16,866,000. Key Group Holdings Cayman LTD. increased its stake in shares of Rowan Companies by 142.8% during the second quarter. Key Group Holdings Cayman LTD. now owns 2,783,345 shares of the oil and gas company’s stock valued at $28,501,000 after acquiring an additional 1,636,896 shares during the period. Finally, State Street Corp increased its stake in shares of Rowan Companies by 24.1% during the second quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock valued at $52,005,000 after acquiring an additional 986,257 shares during the period.
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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.