Rowan Companies PLC (NYSE:RDC) has earned a consensus recommendation of “Hold” from the twenty-five brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $15.58.
Several research analysts recently issued reports on the stock. B. Riley set a $16.00 target price on shares of Rowan Companies and gave the stock a “buy” rating in a research note on Friday, January 5th. Cowen set a $14.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a research note on Thursday, January 11th. Susquehanna Bancshares set a $15.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a research note on Friday, January 12th. Jefferies Group set a $16.00 price objective on shares of Rowan Companies and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies lowered shares of Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Thursday, January 11th.
In related news, CFO Stephen M. Butz sold 3,671 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $12.99, for a total transaction of $47,686.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by company insiders.
Shares of Rowan Companies (RDC) traded down $0.59 during midday trading on Friday, reaching $11.57. 7,715,952 shares of the company traded hands, compared to its average volume of 3,040,804. The company has a market capitalization of $1,520.00, a price-to-earnings ratio of -22.69 and a beta of 1.73. Rowan Companies has a fifty-two week low of $9.02 and a fifty-two week high of $18.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.80 and a current ratio of 5.80.
Rowan Companies (NYSE:RDC) last issued its earnings results on Wednesday, February 28th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.05). The company had revenue of $296.70 million for the quarter, compared to the consensus estimate of $270.28 million. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The firm’s revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. equities analysts anticipate that Rowan Companies will post -0.58 EPS for the current year.
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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