Rowan Companies (NYSE:RDC) has been assigned a $16.00 price objective by research analysts at B. Riley in a report issued on Friday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. B. Riley’s price target suggests a potential downside of 6.98% from the stock’s current price.
A number of other brokerages also recently commented on RDC. BMO Capital Markets set a $12.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Royal Bank of Canada set a $14.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a research note on Sunday, October 8th. FBR & Co reaffirmed a “buy” rating on shares of Rowan Companies in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Thursday, November 16th. Finally, ValuEngine downgraded shares of Rowan Companies from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $16.22.
Rowan Companies (RDC) traded up $0.39 on Friday, reaching $17.20. 2,377,600 shares of the company were exchanged, compared to its average volume of 2,572,733. The firm has a market capitalization of $2,122.31, a price-to-earnings ratio of -33.08 and a beta of 1.90. Rowan Companies has a 52-week low of $9.02 and a 52-week high of $20.50. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47.
Rowan Companies (NYSE:RDC) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.26. The firm had revenue of $291.60 million for the quarter, compared to analyst estimates of $281.51 million. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. Rowan Companies’s quarterly revenue was down 23.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. equities analysts anticipate that Rowan Companies will post -0.62 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Rowan Companies by 140.0% in the 2nd quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock valued at $16,800,000 after acquiring an additional 957,047 shares during the period. Rhumbline Advisers increased its stake in Rowan Companies by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 285,312 shares of the oil and gas company’s stock worth $2,922,000 after buying an additional 60,193 shares during the period. Sterling Capital Management LLC purchased a new stake in Rowan Companies during the 2nd quarter worth approximately $922,000. Royal Bank of Canada increased its stake in Rowan Companies by 296.6% during the 2nd quarter. Royal Bank of Canada now owns 38,316 shares of the oil and gas company’s stock worth $392,000 after buying an additional 28,656 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in Rowan Companies by 270.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 42,926 shares of the oil and gas company’s stock worth $440,000 after buying an additional 31,331 shares during the period.
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About Rowan Companies
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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