Rowan Companies PLC (NYSE:RDC) has earned a consensus rating of “Hold” from the twenty-three research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.99.
RDC has been the subject of several research analyst reports. B. Riley set a $20.00 target price on shares of Rowan Companies and gave the stock a “buy” rating in a research report on Monday, August 13th. Barclays boosted their target price on shares of Rowan Companies from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Thursday, August 9th. ValuEngine raised shares of Rowan Companies from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 22nd. Wells Fargo & Co raised shares of Rowan Companies from a “market perform” rating to an “outperform” rating in a research report on Saturday, June 2nd. Finally, Zacks Investment Research raised shares of Rowan Companies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 24th.
RDC opened at $13.46 on Friday. The stock has a market capitalization of $1.65 billion, a PE ratio of -21.03 and a beta of 1.79. Rowan Companies has a 1-year low of $9.02 and a 1-year high of $17.33. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 0.48.
Rowan Companies (NYSE:RDC) last released its earnings results on Wednesday, August 1st. The oil and gas company reported ($0.60) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.93) by $0.33. The company had revenue of $241.30 million during the quarter, compared to the consensus estimate of $207.71 million. Rowan Companies had a negative net margin of 9.41% and a negative return on equity of 4.70%. The company’s revenue was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.25) EPS. equities analysts expect that Rowan Companies will post -3.52 EPS for the current year.
In related news, VP Richard Jason Anderson sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. LMR Partners LLP bought a new stake in shares of Rowan Companies during the 2nd quarter valued at about $425,000. Alambic Investment Management L.P. bought a new stake in shares of Rowan Companies during the 1st quarter valued at about $255,000. Schwab Charles Investment Management Inc. grew its position in shares of Rowan Companies by 8.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,247,891 shares of the oil and gas company’s stock valued at $14,401,000 after buying an additional 96,451 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Rowan Companies by 323.9% during the 1st quarter. Prudential Financial Inc. now owns 328,353 shares of the oil and gas company’s stock valued at $3,789,000 after buying an additional 250,900 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Rowan Companies by 5.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,764,044 shares of the oil and gas company’s stock valued at $31,897,000 after purchasing an additional 148,861 shares during the period. 99.70% of the stock is owned by institutional investors and hedge funds.
About Rowan Companies
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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