Other analysts have also issued reports about the stock. Credit Suisse Group AG lowered shares of Rowan Cos. from an outperform rating to a neutral rating and reduced their price target for the stock from $15.00 to $13.00 in a research note on Friday, September 23rd. Citigroup Inc. reduced their price target on shares of Rowan Cos. from $20.00 to $15.00 and set a neutral rating for the company in a research note on Thursday, August 25th. Piper Jaffray Cos. reduced their price target on shares of Rowan Cos. from $15.50 to $14.15 and set an overweight rating for the company in a research note on Friday, September 16th. FBR & Co reaffirmed a buy rating on shares of Rowan Cos. in a research note on Thursday, September 8th. Finally, Evercore ISI reaffirmed a buy rating on shares of Rowan Cos. in a research note on Wednesday, June 29th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $17.15.
Rowan Cos. (NYSE:RDC) opened at 15.03 on Friday. The firm’s 50-day moving average price is $13.63 and its 200-day moving average price is $15.93. Rowan Cos. has a 1-year low of $10.67 and a 1-year high of $21.83. The firm has a market capitalization of $1.89 billion, a PE ratio of 8.40 and a beta of 1.54.
Rowan Cos. (NYSE:RDC) last posted its earnings results on Tuesday, August 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by $0.06. The firm had revenue of $611.90 million for the quarter, compared to analyst estimates of $470.98 million. Rowan Cos. had a net margin of 10.24% and a return on equity of 9.22%. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, equities research analysts predict that Rowan Cos. will post $1.67 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC increased its stake in Rowan Cos. by 75.6% in the second quarter. LS Investment Advisors LLC now owns 7,582 shares of the company’s stock valued at $134,000 after buying an additional 3,265 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Rowan Cos. by 91.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,666 shares of the company’s stock valued at $135,000 after buying an additional 3,658 shares in the last quarter. Rational Advisors LLC purchased a new stake in Rowan Cos. during the second quarter valued at about $143,000. Bank of Hawaii purchased a new stake in Rowan Cos. during the second quarter valued at about $179,000. Finally, Smith Asset Management Group LP purchased a new stake in Rowan Cos. during the second quarter valued at about $202,000.
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.
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