Rowan Companies (NYSE:RDC) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Monday.
A number of other equities research analysts have also recently commented on RDC. Jefferies Group set a $16.00 price objective on Rowan Companies and gave the stock a “hold” rating in a research note on Thursday, January 4th. B. Riley set a $16.00 price objective on Rowan Companies and gave the stock a “buy” rating in a research note on Friday, January 5th. Piper Jaffray cut Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Thursday, January 11th. Cowen set a $14.00 price objective on Rowan Companies and gave the stock a “hold” rating in a research note on Thursday, January 11th. Finally, Susquehanna Bancshares set a $15.00 price objective on Rowan Companies and gave the stock a “hold” rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. Rowan Companies has a consensus rating of “Hold” and a consensus price target of $14.69.
Shares of RDC stock traded up $0.27 on Monday, reaching $12.87. 2,426,637 shares of the stock were exchanged, compared to its average volume of 2,960,760. The company has a market cap of $1,590.97, a P/E ratio of -20.11 and a beta of 1.80. Rowan Companies has a one year low of $9.02 and a one year high of $17.33. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 0.47.
Rowan Companies (NYSE:RDC) last announced its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). Rowan Companies had a negative return on equity of 1.52% and a net margin of 5.67%. The company had revenue of $296.70 million for the quarter, compared to analyst estimates of $270.28 million. During the same period last year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. equities research analysts anticipate that Rowan Companies will post -3.4 earnings per share for the current fiscal year.
In other Rowan Companies news, CFO Stephen M. Butz sold 3,671 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Meadow Creek Investment Management LLC grew its stake in Rowan Companies by 28.6% in the fourth quarter. Meadow Creek Investment Management LLC now owns 20,502 shares of the oil and gas company’s stock valued at $321,000 after acquiring an additional 4,556 shares during the period. Pinnacle Associates Ltd. grew its stake in Rowan Companies by 9.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 60,316 shares of the oil and gas company’s stock valued at $945,000 after acquiring an additional 5,199 shares during the period. Swiss National Bank grew its stake in Rowan Companies by 3.1% in the fourth quarter. Swiss National Bank now owns 202,000 shares of the oil and gas company’s stock valued at $3,163,000 after acquiring an additional 6,000 shares during the period. California Public Employees Retirement System grew its stake in Rowan Companies by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 697,824 shares of the oil and gas company’s stock valued at $10,928,000 after acquiring an additional 6,208 shares during the period. Finally, CoreCommodity Management LLC grew its stake in Rowan Companies by 13.7% in the fourth quarter. CoreCommodity Management LLC now owns 62,427 shares of the oil and gas company’s stock valued at $978,000 after acquiring an additional 7,538 shares during the period.
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Rowan Companies Company Profile
Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.
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