Rowan Companies (RDC) Given a $14.00 Price Target by Cowen Analysts

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.

COPYRIGHT VIOLATION NOTICE: “Rowan Companies (RDC) Given a $14.00 Price Target by Cowen Analysts” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another site, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/01/12/rowan-companies-rdc-given-a-14-00-price-target-by-cowen-analysts.html.

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.

Analyst Recommendations for Rowan Companies (NYSE:RDC)

Receive News & Ratings for Rowan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply