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.
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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.
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