Shares of Rowan Companies PLC (NYSE:RDC) were down 5.3% on Thursday . The company traded as low as $16.36 and last traded at $16.47. Approximately 2,146,045 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 2,970,423 shares. The stock had previously closed at $17.40.
A number of analysts recently weighed in on RDC shares. B. Riley set a $20.00 price target on Rowan Companies and gave the company a “buy” rating in a research note on Monday, August 13th. Credit Suisse Group upgraded Rowan Companies from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $16.00 to $20.00 in a research report on Monday, September 24th. HSBC downgraded Rowan Companies from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a research report on Friday, September 21st. Barclays boosted their target price on Rowan Companies from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Thursday, August 9th. Finally, TheStreet upgraded Rowan Companies from a “d+” rating to a “c-” rating in a research report on Friday, October 5th. 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 company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.46.
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 stock has a market cap of $2.21 billion, a PE ratio of -25.08 and a beta of 1.88.
Rowan Companies (NYSE:RDC) last issued its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($1.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.15) by $0.02. The business had revenue of $192.90 million for the quarter, compared to the consensus estimate of $179.39 million. Rowan Companies had a negative return on equity of 7.11% and a negative net margin of 23.47%. The business’s revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.16) earnings per share. Analysts forecast that Rowan Companies PLC will post -3.65 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new stake in Rowan Companies during the second quarter worth about $162,000. GWM Advisors LLC acquired a new stake in Rowan Companies during the second quarter worth about $197,000. V Wealth Management LLC acquired a new stake in Rowan Companies during the second quarter worth about $220,000. Fox Run Management L.L.C. acquired a new stake in Rowan Companies during the third quarter worth about $261,000. Finally, Coastline Trust Co acquired a new stake in Rowan Companies during the second quarter worth about $266,000. Hedge funds and other institutional investors own 97.57% of the company’s stock.
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Rowan Companies Company Profile (NYSE:RDC)
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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