Several other brokerages also recently commented on RDC. Nomura set a $14.00 target price on shares of Rowan Cos. and gave the stock a hold rating in a report on Tuesday, August 16th. Bank of America Corp. reiterated an underperform rating on shares of Rowan Cos. in a report on Monday, June 13th. Zacks Investment Research downgraded shares of Rowan Cos. from a hold rating to a sell rating in a report on Wednesday, July 13th. FBR & Co reiterated a buy rating on shares of Rowan Cos. in a report on Thursday, September 8th. Finally, Jefferies Group set a $17.00 target price on shares of Rowan Cos. and gave the stock a buy rating in a report on Wednesday, September 28th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the stock. Rowan Cos. presently has a consensus rating of Hold and an average target price of $17.15.
Rowan Cos. (NYSE:RDC) opened at 15.08 on Monday. The firm has a 50-day moving average of $13.57 and a 200-day moving average of $15.93. Rowan Cos. has a one year low of $10.67 and a one year high of $21.83. The company has a market cap of $1.89 billion, a PE ratio of 8.42 and a beta of 1.53.
Rowan Cos. (NYSE:RDC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.06. Rowan Cos. had a net margin of 10.24% and a return on equity of 9.22%. The business earned $611.90 million during the quarter, compared to analyst estimates of $470.98 million. During the same period in the previous year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, analysts predict that Rowan Cos. will post $1.67 EPS for the current year.
A number of large investors have recently modified their holdings of the stock. IBM Retirement Fund increased its stake in shares of Rowan Cos. by 1.0% in the second quarter. IBM Retirement Fund now owns 12,690 shares of the company’s stock valued at $224,000 after buying an additional 124 shares during the last quarter. Insight 2811 Inc. increased its stake in shares of Rowan Cos. by 1.3% in the second quarter. Insight 2811 Inc. now owns 31,820 shares of the company’s stock valued at $562,000 after buying an additional 400 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Rowan Cos. by 1.0% in the second quarter. State Treasurer State of Michigan now owns 50,300 shares of the company’s stock valued at $888,000 after buying an additional 500 shares in the last quarter. Utah Retirement Systems increased its stake in shares of Rowan Cos. by 2.7% in the second quarter. Utah Retirement Systems now owns 22,842 shares of the company’s stock valued at $403,000 after buying an additional 600 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Rowan Cos. by 1.9% in the second quarter. Raymond James & Associates now owns 41,058 shares of the company’s stock valued at $725,000 after buying an additional 779 shares in the last quarter.
Rowan Cos. Company Profile
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.
Receive News & Ratings for Rowan Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Cos. and related companies with MarketBeat.com's FREE daily email newsletter.