Rowan Cos. (NYSE:RDC) has been assigned a $17.00 price target by analysts at Jefferies Group in a research note issued to investors on Wednesday. The firm presently has a a “buy” rating on the stock. Jefferies Group’s target price points to a potential upside of 16.44% from the stock’s previous close.
Several other research firms have also recently commented on RDC. Iberia Capital cut Rowan Cos. from an “outperform” rating to a “sector perform” rating and set a $19.00 price target for the company. in a report on Tuesday, July 5th. Johnson Rice raised Rowan Cos. from an “accumulate” rating to a “buy” rating in a report on Monday, June 13th. Bank of America Corp. reaffirmed an “underperform” rating on shares of Rowan Cos. in a report on Monday, June 13th. Zacks Investment Research cut Rowan Cos. from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Finally, Evercore ISI reissued a “buy” rating on shares of Rowan Cos. in a report on Wednesday, June 29th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Rowan Cos. presently has an average rating of “Hold” and a consensus price target of $17.67.
Shares of Rowan Cos. (NYSE:RDC) traded up 9.36% on Wednesday, reaching $14.60. The company’s stock had a trading volume of 8,342,069 shares. Rowan Cos. has a 52 week low of $10.67 and a 52 week high of $21.83. The stock has a 50-day moving average of $13.31 and a 200 day moving average of $16.01. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 8.16 and a beta of 1.61.
Rowan Cos. (NYSE:RDC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by $0.06. The firm earned $611.90 million during 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 was up 20.3% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. On average, analysts expect that Rowan Cos. will post $1.68 EPS for the current year.
Large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in shares of Rowan Cos. by 12.7% in the first quarter. Canada Pension Plan Investment Board now owns 27,600 shares of the company’s stock worth $444,000 after buying an additional 3,100 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Rowan Cos. during the first quarter worth about $259,000. Columbia Partners L L C Investment Management boosted its stake in shares of Rowan Cos. by 51.4% in the first quarter. Columbia Partners L L C Investment Management now owns 172,913 shares of the company’s stock worth $2,783,000 after buying an additional 58,706 shares in the last quarter. BlackRock Japan Co. Ltd purchased a new stake in shares of Rowan Cos. during the first quarter worth about $470,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Rowan Cos. by 3.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,665,102 shares of the company’s stock worth $59,008,000 after buying an additional 133,198 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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