FY2017 Earnings Forecast for Rowan Companies PLC (RDC) Issued By Jefferies Group

Rowan Companies PLC (NYSE:RDC) – Jefferies Group reduced their FY2017 earnings estimates for Rowan Companies in a research note issued on Wednesday. Jefferies Group analyst E. Royes now expects that the oil and gas company will earn ($0.55) per share for the year, down from their previous forecast of ($0.52). Jefferies Group has a “Hold” rating and a $16.00 price target on the stock. Jefferies Group also issued estimates for Rowan Companies’ Q4 2017 earnings at ($0.23) EPS, FY2018 earnings at ($1.52) EPS, FY2019 earnings at ($2.60) EPS and FY2020 earnings at ($1.05) EPS.

A number of other equities research analysts have also issued reports on RDC. Zacks Investment Research upgraded Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, October 17th. BMO Capital Markets set a $12.00 price target on Rowan Companies and gave the company a “hold” rating in a research report on Tuesday, October 17th. started coverage on Rowan Companies in a research report on Thursday, October 19th. They issued a “buy” rating and a $16.80 price target for the company. FBR & Co restated a “buy” rating on shares of Rowan Companies in a research report on Thursday, October 19th. Finally, Cowen set a $10.00 price target on Rowan Companies and gave the company a “hold” rating in a research report on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.32.

Shares of Rowan Companies (RDC) opened at $12.79 on Friday. 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 has a 52-week low of $9.02 and a 52-week high of $19.01.

A number of institutional investors have recently modified their holdings of RDC. Wedbush Securities Inc. purchased a new position in shares of Rowan Companies during the third quarter worth $135,000. Smith Salley & Associates purchased a new position in shares of Rowan Companies during the third quarter worth $146,000. LMR Partners LLP purchased a new position in shares of Rowan Companies during the third quarter worth $165,000. Sciencast Management LP boosted its position in shares of Rowan Companies by 10.0% during the second quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock worth $134,000 after buying an additional 1,190 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of Rowan Companies by 3.4% during the second quarter. Suntrust Banks Inc. now owns 19,614 shares of the oil and gas company’s stock worth $200,000 after buying an additional 646 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.

Earnings History and Estimates for Rowan Companies (NYSE:RDC)

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