Wall Street analysts predict that Rowan Companies PLC (NYSE:RDC) will post $157.59 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Rowan Companies’ earnings, with estimates ranging from $151.00 million to $168.40 million. Rowan Companies posted sales of $296.70 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 46.9%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 27th.
On average, analysts expect that Rowan Companies will report full-year sales of $780.05 million for the current year, with estimates ranging from $741.67 million to $799.00 million. For the next fiscal year, analysts expect that the business will report sales of $652.26 million, with estimates ranging from $510.63 million to $773.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Rowan Companies.
Rowan Companies (NYSE:RDC) last issued its earnings results on Wednesday, October 31st. The oil and gas company reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.02. Rowan Companies had a negative return on equity of 7.11% and a negative net margin of 23.47%. The firm had revenue of $192.90 million for the quarter, compared to the consensus estimate of $179.39 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The business’s quarterly revenue was down 33.8% compared to the same quarter last year.
A number of research analysts have commented on the company. DNB Markets downgraded Rowan Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. JPMorgan Chase & Co. downgraded Rowan Companies from an “overweight” rating to a “neutral” rating in a research note on Friday, October 12th. TheStreet raised Rowan Companies from a “d+” rating to a “c-” rating in a research report on Friday, October 5th. Credit Suisse Group raised Rowan Companies from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $20.00 in a research report on Monday, September 24th. Finally, HSBC cut Rowan Companies from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research report on Friday, September 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Rowan Companies currently has an average rating of “Hold” and a consensus price target of $15.64.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in Rowan Companies by 142.6% in the 2nd quarter. SG Americas Securities LLC now owns 82,661 shares of the oil and gas company’s stock valued at $1,341,000 after acquiring an additional 48,595 shares in the last quarter. TVR Capital Management LP acquired a new position in Rowan Companies in the 2nd quarter valued at approximately $3,057,000. Aperio Group LLC raised its holdings in Rowan Companies by 26.5% in the 2nd quarter. Aperio Group LLC now owns 131,666 shares of the oil and gas company’s stock valued at $2,136,000 after acquiring an additional 27,608 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Rowan Companies in the 3rd quarter valued at approximately $261,000. Finally, Energy Opportunities Capital Management LLC raised its holdings in Rowan Companies by 127.7% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 276,042 shares of the oil and gas company’s stock valued at $4,477,000 after acquiring an additional 154,815 shares in the last quarter. 97.57% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE RDC opened at $16.60 on Tuesday. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.45. Rowan Companies has a one year low of $10.94 and a one year high of $20.87. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -25.94 and a beta of 1.88.
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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