Rowan Companies PLC (RDC) Expected to Post Earnings of -$1.06 Per Share

Wall Street analysts expect Rowan Companies PLC (NYSE:RDC) to announce earnings of ($1.06) per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Rowan Companies’ earnings, with estimates ranging from ($1.18) to ($0.97). Rowan Companies posted earnings per share of ($0.31) during the same quarter last year, which would indicate a negative year-over-year growth rate of 241.9%. The business is expected to report its next earnings results on Wednesday, February 27th.

On average, analysts expect that Rowan Companies will report full year earnings of ($3.73) per share for the current fiscal year, with EPS estimates ranging from ($3.93) to ($3.59). For the next financial year, analysts forecast that the firm will report earnings of ($3.51) per share, with EPS estimates ranging from ($3.95) to ($2.63). Zacks’ EPS averages are an average based on a survey of research analysts that follow Rowan Companies.

Rowan Companies (NYSE:RDC) last released its earnings results on Wednesday, October 31st. The oil and gas company reported ($1.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.15) by $0.02. The company had revenue of $192.90 million during the quarter, compared to analyst estimates of $179.39 million. Rowan Companies had a negative net margin of 23.47% and a negative return on equity of 7.11%. The firm’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS.

Several research firms recently issued reports on RDC. DNB Markets raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded Rowan Companies from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. ValuEngine downgraded Rowan Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. UBS Group set a $13.00 price target on Rowan Companies and gave the stock a “buy” rating in a research note on Thursday, December 20th. Finally, Societe Generale downgraded Rowan Companies from a “buy” rating to a “hold” rating in a research note on Thursday, December 20th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $14.46.

Rowan Companies stock traded down $0.16 during midday trading on Friday, hitting $10.48. The stock had a trading volume of 1,983,033 shares, compared to its average volume of 2,585,475. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -16.38 and a beta of 2.22. Rowan Companies has a 52-week low of $7.77 and a 52-week high of $20.87. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.45.

Several hedge funds and other institutional investors have recently bought and sold shares of RDC. BlackRock Inc. boosted its position in shares of Rowan Companies by 8.4% during the 2nd quarter. BlackRock Inc. now owns 14,089,013 shares of the oil and gas company’s stock valued at $228,524,000 after acquiring an additional 1,093,323 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Rowan Companies by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 200,963 shares of the oil and gas company’s stock valued at $3,259,000 after acquiring an additional 3,867 shares during the last quarter. FMR LLC boosted its position in shares of Rowan Companies by 4.5% during the 2nd quarter. FMR LLC now owns 2,209,918 shares of the oil and gas company’s stock valued at $35,845,000 after acquiring an additional 95,156 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Rowan Companies during the 2nd quarter valued at approximately $9,743,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Rowan Companies during the 2nd quarter valued at approximately $10,730,000. Hedge funds and other institutional investors own 99.06% of the company’s stock.

Rowan Companies Company Profile

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.

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