Q3 2016 Earnings Estimate for Rowan Cos. Issued By Jefferies Group (RDC)
Rowan Cos. (NYSE:RDC) – Investment analysts at Jefferies Group boosted their Q3 2016 EPS estimates for Rowan Cos. in a report issued on Wednesday. Jefferies Group analyst E. Royes now expects that the firm will earn ($0.04) per share for the quarter, up from their prior forecast of ($0.18). Jefferies Group has a “Buy” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for Rowan Cos.’s Q4 2016 earnings at ($0.12) EPS, FY2016 earnings at $1.60 EPS, Q2 2017 earnings at ($0.40) EPS, Q3 2017 earnings at ($0.54) EPS, Q4 2017 earnings at ($0.60) EPS, FY2017 earnings at ($1.45) EPS, FY2018 earnings at ($2.20) EPS, FY2019 earnings at ($1.45) EPS and FY2020 earnings at ($0.55) EPS.
RDC has been the subject of a number of other research reports. JPMorgan Chase & Co. set a $19.00 target price on shares of Rowan Cos. and gave the company a “buy” rating in a research note on Wednesday, August 3rd. FBR & Co restated a “buy” rating on shares of Rowan Cos. in a report on Monday, September 19th. Evercore ISI restated a “buy” rating and set a $23.00 price target (up previously from $22.00) on shares of Rowan Cos. in a report on Thursday, July 7th. Credit Suisse Group AG set a $15.00 price target on shares of Rowan Cos. and gave the company a “buy” rating in a report on Saturday, September 17th. Finally, Royal Bank Of Canada cut their price target on shares of Rowan Cos. from $22.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday, August 12th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have assigned a buy rating to the company. Rowan Cos. currently has a consensus rating of “Hold” and an average price target of $17.67.
Rowan Cos. (NYSE:RDC) traded up 0.46% during trading on Friday, reaching $15.23. 2,253,387 shares of the company’s stock were exchanged. The company’s 50-day moving average is $13.36 and its 200-day moving average is $16.00. The company has a market capitalization of $1.91 billion, a PE ratio of 8.51 and a beta of 1.61. Rowan Cos. has a 1-year low of $10.67 and a 1-year high of $21.83.
Rowan Cos. (NYSE:RDC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by $0.06. The firm earned $611.90 million during the quarter, compared to analysts’ expectations of $470.98 million. Rowan Cos. had a net margin of 10.24% and a return on equity of 9.22%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in Rowan Cos. by 49.0% in the second quarter. Macquarie Group Ltd. now owns 271,245 shares of the company’s stock valued at $4,790,000 after buying an additional 89,195 shares during the period. Mason Street Advisors LLC bought a new position in Rowan Cos. during the second quarter valued at $1,010,000. Royal Bank of Canada boosted its position in Rowan Cos. by 121.0% in the second quarter. Royal Bank of Canada now owns 87,325 shares of the company’s stock valued at $1,542,000 after buying an additional 47,807 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Rowan Cos. by 98.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,126,182 shares of the company’s stock valued at $19,719,000 after buying an additional 558,459 shares during the period. Finally, Amalgamated Bank boosted its position in Rowan Cos. by 13.0% in the second quarter. Amalgamated Bank now owns 17,059 shares of the company’s stock valued at $238,000 after buying an additional 1,968 shares during the period.
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.
Receive News & Stock Ratings for Rowan Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Cos. and related stocks with our FREE daily email newsletter.