Rowan Companies PLC (NYSE:RDC)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group LLC in a research report issued on Tuesday, July 18th. They currently have a $12.00 price objective on the oil and gas company’s stock, down from their prior price objective of $15.00. Jefferies Group LLC’s price objective indicates a potential upside of 20.72% from the company’s current price. Jefferies Group also issued estimates for Rowan Companies PLC’s Q2 2017 earnings at ($0.23) EPS, FY2017 earnings at ($0.80) EPS, FY2018 earnings at ($2.50) EPS and FY2019 earnings at ($2.40) EPS.
Several other equities research analysts also recently weighed in on RDC. ValuEngine raised Rowan Companies PLC from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. Clarkson Capital raised Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, May 30th. Deutsche Bank AG cut their price target on Rowan Companies PLC from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday, May 3rd. Fearnley Fonds raised Rowan Companies PLC to a “buy” rating in a research report on Friday, April 28th. Finally, BMO Capital Markets set a $15.00 target price on shares of Rowan Companies PLC and gave the stock a “hold” rating in a research note on Tuesday, April 18th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.37.
Rowan Companies PLC (RDC) remained flat at $9.94 during mid-day trading on Tuesday. The company’s stock had a trading volume of 2,605,927 shares. The firm’s 50-day moving average is $10.91 and its 200-day moving average is $14.02. Rowan Companies PLC has a 12-month low of $9.71 and a 12-month high of $21.68. The firm’s market capitalization is $1.25 billion.
Rowan Companies PLC (NYSE:RDC) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.05. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The firm had revenue of $320.20 million for the quarter, compared to the consensus estimate of $296.87 million. During the same period in the prior year, the firm earned $0.75 EPS. The firm’s revenue was down 47.7% on a year-over-year basis. Equities research analysts forecast that Rowan Companies PLC will post ($0.97) EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its position in Rowan Companies PLC by 24.8% in the second quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock worth $106,000 after buying an additional 2,050 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Rowan Companies PLC during the second quarter worth approximately $138,000. Prescott Group Capital Management L.L.C. acquired a new position in Rowan Companies PLC during the second quarter worth approximately $143,000. Neuberger Berman Group LLC raised its position in Rowan Companies PLC by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock worth $159,000 after buying an additional 55 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Rowan Companies PLC during the second quarter worth approximately $161,000.
About Rowan Companies PLC
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. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.
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