Rowan Companies PLC (RDC) Receives Buy Rating from Piper Jaffray Companies

Rowan Companies PLC (NYSE:RDC)‘s stock had its “buy” rating reiterated by stock analysts at Piper Jaffray Companies in a research report issued to clients and investors on Sunday. They presently have a $15.00 price target on the oil and gas company’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 14.50% from the company’s previous close.

Several other equities analysts also recently issued reports on RDC. BMO Capital Markets set a $12.00 price objective on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Tuesday, October 17th. Cowen and Company set a $10.00 price objective on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Wednesday. ValuEngine downgraded shares of Rowan Companies PLC from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. HSBC Holdings plc assumed coverage on shares of Rowan Companies PLC in a report on Thursday. They set a “buy” rating and a $16.80 price objective on the stock. Finally, Zacks Investment Research raised shares of 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. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $16.04.

Shares of Rowan Companies PLC (RDC) opened at 13.10 on Friday. The stock’s market cap is $1.65 billion. The firm has a 50-day moving average of $12.08 and a 200 day moving average of $12.03. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $21.68.

Rowan Companies PLC (NYSE:RDC) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The company had revenue of $320.20 million for the quarter, compared to analyst estimates of $296.87 million. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The firm’s revenue was down 47.7% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. On average, equities analysts forecast that Rowan Companies PLC will post ($0.93) EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was posted by Week Herald and is the sole property of of Week Herald. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://weekherald.com/2017/10/22/rowan-companies-plc-rdc-receives-buy-rating-from-piper-jaffray-companies.html.

A number of hedge funds have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. raised its stake in Rowan Companies PLC by 33.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,403,185 shares of the oil and gas company’s stock worth $18,030,000 after purchasing an additional 351,685 shares during the period. Adams Asset Advisors LLC purchased a new position in Rowan Companies PLC during the third quarter worth about $1,220,000. Dynamic Technology Lab Private Ltd purchased a new position in Rowan Companies PLC during the second quarter worth about $284,000. Sterling Capital Management LLC purchased a new position in Rowan Companies PLC during the second quarter worth about $922,000. Finally, Kalos Management Inc. raised its stake in Rowan Companies PLC by 4.2% during the second quarter. Kalos Management Inc. now owns 24,829 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 993 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.

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

Receive News & Ratings for Rowan Companies PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply