Rowan Companies PLC (NYSE:RDC) – Stock analysts at Capital One Financial issued their FY2020 EPS estimates for shares of Rowan Companies in a report issued on Wednesday, October 31st. Capital One Financial analyst L. Lemoine expects that the oil and gas company will post earnings of ($2.75) per share for the year.
RDC has been the topic of several other reports. Tudor Pickering raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. BMO Capital Markets set a $15.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a research note on Wednesday, July 11th. DNB Markets lowered shares of Rowan Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. B. Riley set a $20.00 target price on shares of Rowan Companies and gave the stock a “buy” rating in a research note on Monday, August 13th. Finally, BTIG Research initiated coverage on shares of Rowan Companies in a research note on Monday, September 17th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $15.46.
RDC opened at $16.73 on Monday. Rowan Companies has a twelve month low of $10.94 and a twelve month high of $20.87. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.03 billion, a PE ratio of -26.14 and a beta of 1.88.
Rowan Companies (NYSE:RDC) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($1.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.15) by $0.02. Rowan Companies had a negative net margin of 23.47% and a negative return on equity of 7.11%. The company had revenue of $192.90 million during the quarter, compared to analysts’ expectations of $179.39 million. During the same period in the prior year, the company posted ($0.16) earnings per share. Rowan Companies’s revenue for the quarter was down 33.8% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of RDC. Oppenheimer & Co. Inc. bought a new position in shares of Rowan Companies in the second quarter valued at $162,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Rowan Companies in the first quarter valued at $191,000. GWM Advisors LLC bought a new position in shares of Rowan Companies in the second quarter valued at $197,000. V Wealth Management LLC bought a new position in shares of Rowan Companies in the second quarter valued at $220,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Rowan Companies in the third quarter valued at $261,000. 97.57% of the stock is currently owned by institutional investors and hedge funds.
About Rowan Companies
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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