Rowan Companies PLC (NYSE:RDC) has been assigned an average recommendation of “Hold” from the twenty-six research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, sixteen have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.40.

Several analysts have recently weighed in on the company. ValuEngine upgraded Rowan Companies PLC from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub upgraded Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Royal Bank Of Canada upgraded Rowan Companies PLC from an “underperform” rating to a “sector perform” rating and boosted their price target for the stock from $13.50 to $14.00 in a report on Friday, August 25th. BMO Capital Markets set a $12.00 price target on Rowan Companies PLC and gave the stock a “hold” rating in a report on Saturday, August 5th. Finally, Barclays PLC restated a “hold” rating and set a $14.00 price target on shares of Rowan Companies PLC in a report on Friday, August 4th.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its position in shares of Rowan Companies PLC by 37.5% during the first quarter. Bank of Montreal Can now owns 97,520 shares of the oil and gas company’s stock worth $1,518,000 after purchasing an additional 26,602 shares during the period. Capstone Asset Management Co. raised its position in shares of Rowan Companies PLC by 4.4% during the first quarter. Capstone Asset Management Co. now owns 20,298 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 850 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Rowan Companies PLC by 2.3% during the first quarter. Louisiana State Employees Retirement System now owns 31,700 shares of the oil and gas company’s stock worth $494,000 after purchasing an additional 700 shares during the period. Nationwide Fund Advisors raised its position in shares of Rowan Companies PLC by 3.5% during the first quarter. Nationwide Fund Advisors now owns 243,798 shares of the oil and gas company’s stock worth $3,798,000 after purchasing an additional 8,158 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Rowan Companies PLC by 1.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 43,948 shares of the oil and gas company’s stock worth $685,000 after purchasing an additional 600 shares during the period.

Rowan Companies PLC (NYSE RDC) traded down 3.38% on Friday, reaching $10.02. 2,818,118 shares of the company’s stock were exchanged. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $21.68. The company’s market cap is $1.26 billion. The stock’s 50 day moving average is $10.43 and its 200 day moving average is $12.88.

Rowan Companies PLC (NYSE:RDC) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The company had revenue of $320.20 million for the quarter, compared to analysts’ expectations of $296.87 million. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business’s quarterly revenue was down 47.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share. On average, equities analysts anticipate that Rowan Companies PLC will post ($0.95) earnings per share for the current year.

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About Rowan Companies PLC

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. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

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