A number of other research analysts have also issued reports on RDC. Jefferies Group reiterated a buy rating on shares of Rowan Cos. in a research note on Sunday, July 10th. Credit Suisse Group AG set a $15.00 price target on shares of Rowan Cos. and gave the stock a buy rating in a research note on Saturday, September 17th. Citigroup Inc. reiterated a neutral rating on shares of Rowan Cos. in a research note on Wednesday, August 3rd. Iberia Capital lowered shares of Rowan Cos. from an outperform rating to a sector perform rating and set a $19.00 price target on the stock. in a research note on Tuesday, July 5th. Finally, Zacks Investment Research lowered shares of Rowan Cos. from a hold rating to a sell rating in a research note on Wednesday, July 13th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $17.71.
Shares of Rowan Cos. (NYSE:RDC) opened at 13.56 on Thursday. The firm has a 50-day moving average of $13.35 and a 200-day moving average of $16.03. Rowan Cos. has a 12-month low of $10.67 and a 12-month high of $21.83. The firm has a market cap of $1.70 billion, a P/E ratio of 7.58 and a beta of 1.61.
Rowan Cos. (NYSE:RDC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by $0.06. The business 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 for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, equities analysts forecast that Rowan Cos. will post $1.68 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of RDC. LS Investment Advisors LLC increased its position in Rowan Cos. by 75.6% in the second quarter. LS Investment Advisors LLC now owns 7,582 shares of the company’s stock worth $134,000 after buying an additional 3,265 shares during the period. Tower Research Capital LLC TRC increased its position 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 worth $135,000 after buying an additional 3,658 shares during the period. Rational Advisors LLC bought a new position in Rowan Cos. during the second quarter worth approximately $143,000. Bank of Hawaii bought a new position in Rowan Cos. during the second quarter worth approximately $179,000. Finally, Smith Asset Management Group LP bought a new position in Rowan Cos. during the second quarter worth approximately $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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