Rowan Cos. (RDC) Given a $17.00 Price Target at Jefferies Group
Several other brokerages have also commented on RDC. Iberia Capital lowered shares of Rowan Cos. from an outperform rating to a sector perform rating and set a $19.00 target price on the stock. in a research report on Tuesday, July 5th. Bank of America Corp. restated an underperform rating on shares of Rowan Cos. in a research report on Monday, June 13th. Johnson Rice upgraded shares of Rowan Cos. from an accumulate rating to a buy rating in a research report on Monday, June 13th. Zacks Investment Research lowered shares of Rowan Cos. from a hold rating to a sell rating in a research report on Wednesday, July 13th. Finally, Evercore ISI reiterated a buy rating on shares of Rowan Cos. in a research report on Wednesday, June 29th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have given a buy rating to the stock. Rowan Cos. has a consensus rating of Hold and an average price target of $17.67.
Shares of Rowan Cos. (NYSE:RDC) opened at 14.60 on Wednesday. The company’s 50-day moving average is $13.31 and its 200 day moving average is $16.00. The firm has a market capitalization of $1.83 billion, a PE ratio of 8.16 and a beta of 1.61. Rowan Cos. has a 52-week low of $10.67 and a 52-week high of $21.83.
Rowan Cos. (NYSE:RDC) last issued its earnings results on Tuesday, August 2nd. The company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.81 by $0.06. The company had revenue of $611.90 million for the quarter, compared to analysts’ expectations of $470.98 million. Rowan Cos. had a return on equity of 9.22% and a net margin of 10.24%. Rowan Cos.’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Equities analysts expect that Rowan Cos. will post $1.67 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of RDC. IBM Retirement Fund increased its stake in Rowan Cos. by 1.0% in the second quarter. IBM Retirement Fund now owns 12,690 shares of the company’s stock worth $224,000 after buying an additional 124 shares during the period. Insight 2811 Inc. increased its position in shares of Rowan Cos. by 1.3% in the second quarter. Insight 2811 Inc. now owns 31,820 shares of the company’s stock worth $562,000 after buying an additional 400 shares during the last quarter. State Treasurer State of Michigan increased its position in shares of Rowan Cos. by 1.0% in the second quarter. State Treasurer State of Michigan now owns 50,300 shares of the company’s stock worth $888,000 after buying an additional 500 shares during the last quarter. Utah Retirement Systems increased its position in shares of Rowan Cos. by 2.7% in the second quarter. Utah Retirement Systems now owns 22,842 shares of the company’s stock worth $403,000 after buying an additional 600 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Rowan Cos. by 1.9% in the second quarter. Raymond James & Associates now owns 41,058 shares of the company’s stock worth $725,000 after buying an additional 779 shares during the last quarter.
Rowan Cos. 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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.
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