Analysts Anticipate Rowan Companies PLC (RDC) Will Post Earnings of -$1.07 Per Share

Equities analysts expect that Rowan Companies PLC (NYSE:RDC) will post ($1.07) earnings per share for the current quarter, Zacks reports. Seven analysts have made estimates for Rowan Companies’ earnings, with the highest EPS estimate coming in at ($0.80) and the lowest estimate coming in at ($1.28). Rowan Companies reported earnings per share of ($0.16) in the same quarter last year, which suggests a negative year-over-year growth rate of 568.8%. The business is expected to issue its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Rowan Companies will report full year earnings of ($3.55) per share for the current fiscal year, with EPS estimates ranging from ($3.87) to ($3.08). For the next year, analysts anticipate that the company will report earnings of ($3.24) per share, with EPS estimates ranging from ($3.82) to ($2.55). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Rowan Companies.

Rowan Companies (NYSE:RDC) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.93) by $0.33. Rowan Companies had a negative net margin of 9.41% and a negative return on equity of 4.70%. The business had revenue of $241.30 million during the quarter, compared to analysts’ expectations of $207.71 million. During the same period in the previous year, the business posted ($0.25) EPS. The business’s quarterly revenue was down 24.6% compared to the same quarter last year.

Several analysts have commented on RDC shares. B. Riley set a $20.00 price objective on shares of Rowan Companies and gave the company a “buy” rating in a research note on Monday, August 13th. Credit Suisse Group upgraded shares of Rowan Companies from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $16.00 to $20.00 in a research note on Monday. Barclays boosted their target price on shares of Rowan Companies from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Thursday, August 9th. HSBC cut shares of Rowan Companies from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research note on Friday, September 21st. Finally, ValuEngine upgraded shares of Rowan Companies from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Rowan Companies has an average rating of “Buy” and an average target price of $15.68.

Shares of NYSE RDC opened at $18.38 on Monday. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 0.48. Rowan Companies has a 12 month low of $10.94 and a 12 month high of $19.30. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -28.72 and a beta of 1.86.

A number of hedge funds and other institutional investors have recently modified their holdings of RDC. Wells Fargo & Company MN increased its holdings in Rowan Companies by 4.2% in the 1st quarter. Wells Fargo & Company MN now owns 217,208 shares of the oil and gas company’s stock worth $2,507,000 after acquiring an additional 8,762 shares in the last quarter. SG Americas Securities LLC increased its holdings in Rowan Companies by 41.2% in the 1st quarter. SG Americas Securities LLC now owns 34,066 shares of the oil and gas company’s stock worth $393,000 after acquiring an additional 9,935 shares in the last quarter. Prudential Financial Inc. increased its holdings in Rowan Companies by 323.9% in the 1st quarter. Prudential Financial Inc. now owns 328,353 shares of the oil and gas company’s stock worth $3,789,000 after acquiring an additional 250,900 shares in the last quarter. Swiss National Bank increased its holdings in Rowan Companies by 3.4% in the 1st quarter. Swiss National Bank now owns 208,900 shares of the oil and gas company’s stock worth $2,411,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Rowan Companies by 8.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,247,891 shares of the oil and gas company’s stock worth $14,401,000 after acquiring an additional 96,451 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

About Rowan Companies

Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.

See Also: How is an ETF different from a mutual fund?

Get a free copy of the Zacks research report on Rowan Companies (RDC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Rowan Companies (NYSE:RDC)

Receive News & Ratings for Rowan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply