Rowan Cos. (NYSE:RDC) – Equities research analysts at Credit Agricole SA boosted their FY2017 earnings per share (EPS) estimates for Rowan Cos. in a research note issued on Monday. Credit Agricole SA analyst D. Havens now expects that the brokerage will earn ($0.89) per share for the year, up from their previous estimate of ($1.17). Credit Agricole SA also issued estimates for Rowan Cos.’s FY2018 earnings at ($1.78) EPS.

Rowan Cos. (NYSE:RDC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.06. Rowan Cos. had a return on equity of 9.22% and a net margin of 10.24%. The firm had revenue of $611.90 million for the quarter, compared to the consensus estimate of $470.98 million. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year.

Earnings History and Estimates for Rowan Cos. (NYSE:RDC)

A number of other research analysts also recently weighed in on the company. Nomura set a $14.00 price objective on Rowan Cos. and gave the company a “hold” rating in a research note on Tuesday, August 16th. Evercore ISI reissued a “buy” rating on shares of Rowan Cos. in a research note on Wednesday, June 29th. Societe Generale downgraded Rowan Cos. from a “hold” rating to a “sell” rating and cut their price objective for the company from $16.00 to $11.00 in a research note on Monday, October 3rd. Credit Suisse Group AG downgraded Rowan Cos. from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $13.00 in a research note on Friday, September 23rd. Finally, Raymond James Financial Inc. downgraded Rowan Cos. from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $17.15.

Shares of Rowan Cos. (NYSE:RDC) traded up 3.513% during trading on Wednesday, reaching $14.585. The company had a trading volume of 2,082,540 shares. The stock has a 50 day moving average price of $13.81 and a 200 day moving average price of $15.88. Rowan Cos. has a 12 month low of $10.67 and a 12 month high of $21.83. The firm has a market capitalization of $1.83 billion, a PE ratio of 8.148 and a beta of 1.54.

Several large investors have recently made changes to their positions in the company. First Quadrant L P CA increased its stake in shares of Rowan Cos. by 2,351.0% in the third quarter. First Quadrant L P CA now owns 781,122 shares of the company’s stock valued at $11,842,000 after buying an additional 749,252 shares during the period. MSI Financial Services Inc increased its stake in shares of Rowan Cos. by 978.8% in the third quarter. MSI Financial Services Inc now owns 29,990 shares of the company’s stock valued at $455,000 after buying an additional 27,210 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Rowan Cos. during the third quarter valued at about $183,000. Oregon Public Employees Retirement Fund increased its stake in shares of Rowan Cos. by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 42,648 shares of the company’s stock valued at $647,000 after buying an additional 865 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of 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.

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.

5 Day Chart for NYSE:RDC

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