Rowan Companies PLC (RDC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Rowan Companies PLC (NYSE:RDC) have received a consensus recommendation of “Hold” from the twenty-four ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $16.24.

Several equities research analysts have commented on the company. ValuEngine downgraded Rowan Companies from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. B. Riley set a $16.00 price target on Rowan Companies and gave the company a “buy” rating in a report on Friday. 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. Jefferies Group set a $16.00 target price on Rowan Companies and gave the company a “hold” rating in a report on Thursday. Finally, FBR & Co reissued a “buy” rating on shares of Rowan Companies in a report on Thursday, October 19th.

Shares of Rowan Companies (NYSE RDC) traded up $0.39 during mid-day trading on Friday, reaching $17.20. The company had a trading volume of 2,377,600 shares, compared to its average volume of 2,572,733. The stock has a market capitalization of $2,120.00, a PE ratio of -33.73 and a beta of 1.89. Rowan Companies has a 12 month low of $9.02 and a 12 month high of $20.50. 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 issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.26. The company had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $281.51 million. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. equities research analysts predict that Rowan Companies will post -0.62 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its holdings in shares of Rowan Companies by 53.6% in the 3rd quarter. GSA Capital Partners LLP now owns 30,484 shares of the oil and gas company’s stock valued at $392,000 after acquiring an additional 10,635 shares during the period. California Public Employees Retirement System lifted its position in Rowan Companies by 98.6% during the 3rd quarter. California Public Employees Retirement System now owns 691,616 shares of the oil and gas company’s stock worth $8,887,000 after acquiring an additional 343,316 shares during the period. Cubist Systematic Strategies LLC lifted its position in Rowan Companies by 297.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 170,525 shares of the oil and gas company’s stock worth $2,191,000 after acquiring an additional 127,599 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Rowan Companies by 160.5% in the 3rd quarter. Wells Fargo & Company MN now owns 672,795 shares of the oil and gas company’s stock valued at $8,646,000 after buying an additional 414,545 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Rowan Companies in the 3rd quarter valued at about $1,448,000.

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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.

Analyst Recommendations for Rowan Companies (NYSE:RDC)

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