Rowan Companies (NYSE:RDC) has been given a $14.00 price target by equities researchers at Cowen in a research report issued on Thursday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Cowen’s target price indicates a potential downside of 18.13% from the stock’s previous close.
Several other equities research analysts have also recently commented on RDC. ValuEngine cut Rowan Companies from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Piper Jaffray Companies cut Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research report on Thursday. BMO Capital Markets set a $12.00 price objective on Rowan Companies and gave the company a “hold” rating in a research report on Tuesday, October 17th. B. Riley set a $16.00 price objective on Rowan Companies and gave the company a “buy” rating in a research report on Friday, January 5th. Finally, Jefferies Group set a $16.00 price objective on Rowan Companies and gave the company a “hold” rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.64.
Shares of Rowan Companies (NYSE RDC) opened at $17.10 on Thursday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies has a 12-month low of $9.02 and a 12-month high of $20.50. The company has a market capitalization of $2,160.00, a price-to-earnings ratio of -33.53 and a beta of 1.89.
Rowan Companies (NYSE:RDC) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.26. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The company had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $281.51 million. During the same period last year, the firm posted $0.30 earnings per share. Rowan Companies’s revenue was down 23.1% compared to the same quarter last year. research analysts predict that Rowan Companies will post -0.61 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its position in Rowan Companies by 53.6% in the third quarter. GSA Capital Partners LLP now owns 30,484 shares of the oil and gas company’s stock worth $392,000 after purchasing an additional 10,635 shares during the last quarter. California Public Employees Retirement System boosted its position in Rowan Companies by 98.6% in the third quarter. California Public Employees Retirement System now owns 691,616 shares of the oil and gas company’s stock worth $8,887,000 after purchasing an additional 343,316 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Rowan Companies by 297.3% in the third quarter. Cubist Systematic Strategies LLC now owns 170,525 shares of the oil and gas company’s stock worth $2,191,000 after purchasing an additional 127,599 shares during the last quarter. Wells Fargo & Company MN boosted its position in Rowan Companies by 160.5% in the third quarter. Wells Fargo & Company MN now owns 672,795 shares of the oil and gas company’s stock worth $8,646,000 after purchasing an additional 414,545 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Rowan Companies in the third quarter worth about $1,448,000.
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Rowan Companies 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. 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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