Rowan Companies (NYSE:RDC) has been assigned a $16.00 target price by investment analysts at B. Riley in a report issued on Friday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. B. Riley’s price target would suggest a potential downside of 6.98% from the company’s current price.
RDC has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, October 17th. UBS Group raised shares of Rowan Companies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $15.00 in a research report on Monday, September 25th. FBR & Co reissued a “buy” rating on shares of Rowan Companies in a research report on Thursday, October 19th. Cowen set a $10.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, Jefferies Group reissued a “hold” rating and issued a $15.00 target price on shares of Rowan Companies in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.22.
Shares of Rowan Companies (NYSE RDC) traded up $0.39 during midday trading on Friday, hitting $17.20. 2,377,600 shares of the stock were exchanged, compared to its average volume of 2,572,733. The stock has a market capitalization of $2,120.00, a P/E ratio of -33.73 and a beta of 1.89. Rowan Companies has a 1-year low of $9.02 and a 1-year 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 issued its quarterly earnings results 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. The business had revenue of $291.60 million during the quarter, compared to the consensus estimate of $281.51 million. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. The company’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. analysts expect that Rowan Companies will post -0.62 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its stake in Rowan Companies by 42.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,027,910 shares of the oil and gas company’s stock valued at $20,766,000 after purchasing an additional 602,479 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Rowan Companies by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 285,312 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 60,193 shares in the last quarter. Comerica Bank grew its stake in shares of Rowan Companies by 0.3% in the 2nd quarter. Comerica Bank now owns 104,828 shares of the oil and gas company’s stock valued at $1,182,000 after buying an additional 267 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Rowan Companies by 109.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 65,405 shares of the oil and gas company’s stock valued at $670,000 after buying an additional 34,200 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its stake in shares of Rowan Companies by 1.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 23,432 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 400 shares in the last quarter.
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Rowan Companies 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.