Rowan Companies PLC (NYSE:RDC) has been assigned a consensus recommendation of “Hold” from the twenty-two ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.82.
RDC has been the topic of several research analyst reports. TheStreet raised Rowan Companies from a “d+” rating to a “c-” rating in a research report on Friday, October 5th. Citigroup raised Rowan Companies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $19.00 in a research report on Friday, September 7th. DNB Markets lowered Rowan Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. B. Riley set a $20.00 target price on Rowan Companies and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $16.00 target price on shares of Rowan Companies in a research report on Friday, July 20th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Rowan Companies by 8.4% during the second quarter. BlackRock Inc. now owns 14,089,013 shares of the oil and gas company’s stock worth $228,524,000 after buying an additional 1,093,323 shares during the period. Millennium Management LLC increased its position in Rowan Companies by 2.5% during the second quarter. Millennium Management LLC now owns 4,037,457 shares of the oil and gas company’s stock worth $65,488,000 after buying an additional 97,549 shares during the period. Luminus Management LLC increased its position in Rowan Companies by 12.7% during the second quarter. Luminus Management LLC now owns 2,960,719 shares of the oil and gas company’s stock worth $48,023,000 after buying an additional 333,350 shares during the period. Northern Trust Corp increased its position in Rowan Companies by 3.6% during the second quarter. Northern Trust Corp now owns 2,960,084 shares of the oil and gas company’s stock worth $48,013,000 after buying an additional 103,904 shares during the period. Finally, FMR LLC increased its position in Rowan Companies by 4.5% during the second quarter. FMR LLC now owns 2,209,918 shares of the oil and gas company’s stock worth $35,845,000 after buying an additional 95,156 shares during the period. 97.57% of the stock is currently owned by institutional investors.
RDC stock traded down $0.23 during mid-day trading on Thursday, reaching $16.37. The company had a trading volume of 94,877 shares, compared to its average volume of 4,409,196. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.97 and a quick ratio of 2.97. The firm has a market capitalization of $2.03 billion, a P/E ratio of -25.75 and a beta of 1.88. Rowan Companies has a fifty-two week low of $10.94 and a fifty-two week high of $20.87.
Rowan Companies (NYSE:RDC) last issued its earnings results on Wednesday, October 31st. The oil and gas company reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.02. Rowan Companies had a negative return on equity of 7.11% and a negative net margin of 23.47%. The business had revenue of $192.90 million for the quarter, compared to analyst estimates of $179.39 million. During the same quarter last year, the company earned ($0.16) EPS. The business’s quarterly revenue was down 33.8% on a year-over-year basis. On average, analysts expect that Rowan Companies will post -3.7 EPS for the current year.
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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