BMO Capital Markets set a $12.00 price objective on Rowan Companies PLC (NYSE:RDC) in a report issued on Tuesday, October 17th. The firm currently has a hold rating on the oil and gas company’s stock.
Other research analysts have also recently issued research reports about the company. UBS AG raised Rowan Companies PLC from a neutral rating to a buy rating and upped their price target for the company from $11.00 to $15.00 in a research report on Monday, September 25th. Zacks Investment Research raised Rowan Companies PLC from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Tuesday, October 17th. TheStreet cut Rowan Companies PLC from a c rating to a d rating in a report on Wednesday, August 2nd. ValuEngine raised Rowan Companies PLC from a sell rating to a hold rating in a report on Friday, September 1st. Finally, Barclays PLC reissued a hold rating and set a $14.00 price objective on shares of Rowan Companies PLC in a report on Friday, August 4th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Rowan Companies PLC has a consensus rating of Hold and a consensus price target of $16.34.
Shares of Rowan Companies PLC (NYSE RDC) traded up $0.49 during trading hours on Tuesday, reaching $14.57. The company’s stock had a trading volume of 854,384 shares, compared to its average volume of 3,356,201. Rowan Companies PLC has a 52-week low of $9.02 and a 52-week high of $21.68. 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 PLC (NYSE:RDC) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.26. Rowan Companies PLC had a negative return on equity of 0.61% and a negative net margin of 4.76%. The firm had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $281.51 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. equities analysts forecast that Rowan Companies PLC will post -0.82 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC lifted its stake in shares of Rowan Companies PLC by 0.5% in the 1st quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 55 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Rowan Companies PLC by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,403 shares of the oil and gas company’s stock valued at $188,000 after buying an additional 71 shares during the last quarter. Comerica Bank raised its stake in Rowan Companies PLC by 0.3% during the second quarter. Comerica Bank now owns 104,828 shares of the oil and gas company’s stock valued at $1,182,000 after buying an additional 267 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in Rowan Companies PLC by 1.7% during the second quarter. Virginia Retirement Systems ET AL now owns 23,432 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 400 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in Rowan Companies PLC by 0.3% during the second quarter. Retirement Systems of Alabama now owns 162,562 shares of the oil and gas company’s stock valued at $1,665,000 after buying an additional 546 shares during the last quarter.
Rowan Companies PLC 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.
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