Brokerages predict that Rowan Companies PLC (NYSE:RDC) will report $183.59 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Rowan Companies’ earnings, with estimates ranging from $170.00 million to $194.00 million. Rowan Companies posted sales of $291.60 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 37%. The business is expected to announce its next earnings results before the market opens on Wednesday, November 7th.
On average, analysts expect that Rowan Companies will report full year sales of $773.64 million for the current year, with estimates ranging from $731.00 million to $807.50 million. For the next fiscal year, analysts anticipate that the business will report sales of $654.31 million, with estimates ranging from $515.65 million to $773.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Rowan Companies.
Rowan Companies (NYSE:RDC) last released its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.33. Rowan Companies had a negative return on equity of 4.70% and a negative net margin of 9.41%. The company had revenue of $241.30 million for the quarter, compared to analyst estimates of $207.71 million. During the same period in the previous year, the company posted ($0.25) EPS. The firm’s revenue for the quarter was down 24.6% compared to the same quarter last year.
A number of equities analysts have weighed in on RDC shares. B. Riley set a $20.00 target price on Rowan Companies and gave the stock a “buy” rating in a research note on Friday, September 7th. Citigroup upgraded Rowan Companies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.00 to $19.00 in a research note on Friday, September 7th. Tudor Pickering upgraded Rowan Companies from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Societe Generale upgraded Rowan Companies from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Finally, TheStreet upgraded Rowan Companies from a “d+” rating to a “c-” rating in a research note on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Rowan Companies currently has a consensus rating of “Buy” and an average price target of $15.72.
Shares of NYSE RDC opened at $18.92 on Friday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -30.13 and a beta of 1.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 6.09 and a current ratio of 6.09. Rowan Companies has a twelve month low of $10.94 and a twelve month high of $20.87.
Several institutional investors have recently made changes to their positions in RDC. Ahrens Investment Partners LLC bought a new position in shares of Rowan Companies during the 1st quarter valued at about $162,000. Oppenheimer & Co. Inc. bought a new position in shares of Rowan Companies during the 2nd quarter valued at about $162,000. Verition Fund Management LLC bought a new position in shares of Rowan Companies during the 1st quarter valued at about $170,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Rowan Companies during the 1st quarter valued at about $191,000. Finally, Element Capital Management LLC bought a new position in shares of Rowan Companies during the 1st quarter valued at about $197,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.
Rowan Companies Company Profile
Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.
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