Rowan Cos. (NYSE:RDC) – Investment analysts at Jefferies Group reduced their Q1 2017 earnings per share estimates for shares of Rowan Cos. in a research note issued on Wednesday. Jefferies Group analyst E. Royes now anticipates that the brokerage will post earnings per share of $0.09 for the quarter, down from their previous estimate of $0.13. Jefferies Group has a “Buy” rating and a $17.00 price objective on the stock.
Several other equities analysts have also commented on the stock. Nomura set a $14.00 price target on shares of Rowan Cos. and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Evercore ISI reaffirmed a “buy” rating on shares of Rowan Cos. in a research report on Wednesday, June 29th. Credit Suisse Group AG lowered shares of Rowan Cos. from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $15.00 to $13.00 in a research report on Friday, September 23rd. Raymond James Financial Inc. lowered shares of Rowan Cos. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 26th. Finally, Howard Weil initiated coverage on shares of Rowan Cos. in a research report on Wednesday, September 14th. They set a “sector perform” rating and a $17.00 price target for the company. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have issued a buy rating to the stock. Rowan Cos. presently has an average rating of “Hold” and a consensus target price of $17.67.
Shares of Rowan Cos. (NYSE:RDC) traded up 4.66% during midday trading on Thursday, reaching $15.28. 6,293,110 shares of the company traded hands. Rowan Cos. has a 12 month low of $10.67 and a 12 month high of $21.83. The company has a 50 day moving average of $13.31 and a 200 day moving average of $16.00. The firm has a market capitalization of $1.92 billion, a P/E ratio of 8.54 and a beta of 1.61.
Rowan Cos. (NYSE:RDC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.06. Rowan Cos. had a return on equity of 9.22% and a net margin of 10.24%. The company had revenue of $611.90 million for the quarter, compared to analyst estimates of $470.98 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Rowan Cos.’s revenue was up 20.3% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the stock. Virginia Retirement System acquired a new position in Rowan Cos. during the first quarter valued at $628,000. Ramsey Quantitative Systems raised its position in Rowan Cos. by 27.1% in the first quarter. Ramsey Quantitative Systems now owns 34,062 shares of the company’s stock valued at $548,000 after buying an additional 7,260 shares during the period. Bowling Portfolio Management LLC acquired a new position in Rowan Cos. during the first quarter valued at $2,266,000. Los Angeles Capital Management & Equity Research Inc. raised its position in Rowan Cos. by 30.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 439,490 shares of the company’s stock valued at $7,076,000 after buying an additional 103,010 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in Rowan Cos. by 0.9% in the first quarter. TIAA CREF Investment Management LLC now owns 978,688 shares of the company’s stock valued at $15,757,000 after buying an additional 8,723 shares during the period.
About Rowan Cos.
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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.
Receive News & Ratings for Rowan Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Cos. and related companies with MarketBeat.com's FREE daily email newsletter.