RDC has been the subject of several other reports. Credit Suisse Group AG downgraded shares of Rowan Cos. from an outperform rating to a neutral rating and decreased their target price for the stock from $15.00 to $13.00 in a research report on Friday, September 23rd. Piper Jaffray Cos. decreased their target price on shares of Rowan Cos. from $15.50 to $14.15 and set an overweight rating for the company in a research report on Friday, September 16th. FBR & Co reissued a buy rating on shares of Rowan Cos. in a research report on Thursday, September 8th. Evercore ISI reissued a buy rating on shares of Rowan Cos. in a research report on Wednesday, June 29th. Finally, Zephirin Group raised shares of Rowan Cos. from a hold rating to a buy rating and set a $18.00 target price for the company in a research report on Monday, September 19th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $17.15.
Rowan Cos. (NYSE:RDC) opened at 14.72 on Monday. Rowan Cos. has a one year low of $10.67 and a one year high of $21.83. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 8.22 and a beta of 1.54. The firm’s 50-day moving average is $13.72 and its 200 day moving average is $15.91.
Rowan Cos. (NYSE:RDC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.06. Rowan Cos. had a net margin of 10.24% and a return on equity of 9.22%. The company had revenue of $611.90 million for the quarter, compared to analysts’ expectations of $470.98 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. Analysts forecast that Rowan Cos. will post $1.67 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its position in Rowan Cos. by 533.1% in the second quarter. First Trust Advisors LP now owns 2,620,005 shares of the company’s stock worth $46,269,000 after buying an additional 2,206,144 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Rowan Cos. by 182.8% in the second quarter. Acadian Asset Management LLC now owns 3,211,858 shares of the company’s stock worth $56,718,000 after buying an additional 2,075,973 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Rowan Cos. by 17.4% in the second quarter. Vanguard Group Inc. now owns 13,651,405 shares of the company’s stock worth $241,084,000 after buying an additional 2,020,982 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Rowan Cos. during the second quarter worth $22,646,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Rowan Cos. by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 10,630,685 shares of the company’s stock worth $187,740,000 after buying an additional 941,800 shares in the last quarter.
Rowan Cos. 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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.
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