A number of other research analysts also recently issued reports on RDC. Jefferies Group LLC set a $20.00 price target on Rowan Companies PLC and gave the company a hold rating in a report on Saturday, February 25th. Mizuho downgraded Rowan Companies PLC from a neutral rating to an underperform rating and set a $26.00 price target for the company. in a report on Friday, February 10th. Credit Suisse Group AG reissued a neutral rating and issued a $21.00 price target (up from $13.00) on shares of Rowan Companies PLC in a report on Friday, February 3rd. Royal Bank of Canada downgraded Rowan Companies PLC from a sector perform rating to an underperform rating and upped their target price for the stock from $16.00 to $23.00 in a research note on Friday, December 16th. Finally, Scotiabank reiterated a hold rating and set a $22.00 price target on shares of Rowan Companies PLC in a research report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $18.61.
Rowan Companies PLC (NYSE:RDC) traded up 0.14% on Thursday, hitting $14.26. 3,345,980 shares of the company were exchanged. The stock has a market capitalization of $1.79 billion, a P/E ratio of 5.59 and a beta of 1.68. The company has a 50 day moving average price of $15.30 and a 200-day moving average price of $16.76. Rowan Companies PLC has a 52 week low of $12.00 and a 52 week high of $21.68.
Rowan Companies PLC (NYSE:RDC) last issued its earnings results on Friday, February 24th. The oil and gas company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.14. The firm had revenue of $351.80 million for the quarter, compared to analyst estimates of $343.71 million. Rowan Companies PLC had a return on equity of 7.52% and a net margin of 23.15%. Rowan Companies PLC’s revenue for the quarter was down 34.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. On average, equities analysts expect that Rowan Companies PLC will post ($1.00) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Rowan Companies PLC by 4.5% in the third quarter. BlackRock Fund Advisors now owns 4,905,203 shares of the oil and gas company’s stock worth $74,363,000 after buying an additional 210,253 shares in the last quarter. FIL Ltd increased its position in Rowan Companies PLC by 1.1% in the fourth quarter. FIL Ltd now owns 4,864,877 shares of the oil and gas company’s stock worth $91,898,000 after buying an additional 52,475 shares in the last quarter. Acadian Asset Management LLC increased its position in Rowan Companies PLC by 36.2% in the third quarter. Acadian Asset Management LLC now owns 4,373,374 shares of the oil and gas company’s stock worth $66,300,000 after buying an additional 1,161,516 shares in the last quarter. Luminus Management LLC bought a new position in shares of Rowan Companies PLC during the fourth quarter valued at $48,498,000. Finally, Franklin Resources Inc. increased its position in shares of Rowan Companies PLC by 77.8% in the fourth quarter. Franklin Resources Inc. now owns 2,438,264 shares of the oil and gas company’s stock valued at $46,059,000 after buying an additional 1,066,584 shares during the period.
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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