Rowan Companies (NYSE:RDC) posted its quarterly earnings data on Wednesday. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.05), Bloomberg Earnings reports. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The firm had revenue of $296.70 million for the quarter, compared to the consensus estimate of $270.28 million. During the same period in the prior year, the company earned $0.08 EPS. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year.
Rowan Companies (NYSE:RDC) traded down $0.67 during trading on Thursday, hitting $11.49. The stock had a trading volume of 734,453 shares, compared to its average volume of 2,862,801. Rowan Companies has a one year low of $9.02 and a one year high of $18.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a market capitalization of $1,540.00, a P/E ratio of -23.84 and a beta of 1.73.
In other news, CFO Stephen M. Butz sold 3,671 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $12.99, for a total value of $47,686.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.77% of the company’s stock.
A number of research analysts have recently commented on the stock. Cowen set a $14.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research cut shares of Rowan Companies from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Barclays cut shares of Rowan Companies from an “equal weight” rating to an “underweight” rating and set a $10.00 target price for the company. in a report on Tuesday, January 23rd. B. Riley reissued a “buy” rating on shares of Rowan Companies in a report on Wednesday, November 1st. Finally, Jefferies Group reissued a “hold” rating and issued a $15.00 target price on shares of Rowan Companies in a report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. Rowan Companies presently has a consensus rating of “Hold” and a consensus target price of $15.60.
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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