Rowan Companies (RDC) PT Set at $14.00 by Cowen

Rowan Companies (NYSE:RDC) received a $14.00 price target from equities research analysts at Cowen in a report released on Thursday. The firm presently has a “hold” rating on the oil and gas company’s stock. Cowen’s price objective suggests a potential downside of 18.46% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised 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. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $15.00 price target on shares of Rowan Companies in a research note on Sunday, October 22nd. FBR & Co reaffirmed a “buy” rating on shares of Rowan Companies in a research note on Thursday, October 19th. started coverage on Rowan Companies in a research note on Thursday, October 19th. They issued a “buy” rating and a $16.80 price target on the stock. Finally, UBS Group raised Rowan Companies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.00 to $15.00 in a research note on Monday, September 25th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.54.

Rowan Companies (RDC) opened at $17.17 on Thursday. Rowan Companies has a 12 month low of $9.02 and a 12 month high of $20.34. The company has a market capitalization of $2,167.76, a price-to-earnings ratio of -33.02 and a beta of 1.90. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47.

Rowan Companies (NYSE:RDC) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) EPS 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 business 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 company posted $0.30 EPS. The company’s quarterly revenue was down 23.1% on a year-over-year basis. sell-side analysts expect that Rowan Companies will post -0.63 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of RDC. BlackRock Inc. increased its holdings in Rowan Companies by 30.3% during the 2nd quarter. BlackRock Inc. now owns 14,315,633 shares of the oil and gas company’s stock worth $146,590,000 after purchasing an additional 3,327,747 shares during the period. State Street Corp increased its holdings in Rowan Companies by 24.1% during the 2nd quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock worth $52,005,000 after purchasing an additional 986,257 shares during the period. Northern Trust Corp increased its holdings in Rowan Companies by 145.7% during the 2nd quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock worth $32,274,000 after purchasing an additional 1,869,194 shares during the period. Key Group Holdings Cayman LTD. increased its holdings in Rowan Companies by 142.8% during the 2nd quarter. Key Group Holdings Cayman LTD. now owns 2,783,345 shares of the oil and gas company’s stock worth $28,501,000 after purchasing an additional 1,636,896 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in Rowan Companies by 3.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 2,089,050 shares of the oil and gas company’s stock worth $21,392,000 after purchasing an additional 74,220 shares during the period.

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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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