Rowan Companies PLC (RDC) PT Raised to $18.00
Rowan Companies PLC (NYSE:RDC) had its price objective raised by equities research analysts at UBS AG from $15.00 to $18.00 in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the oil and gas company’s stock. UBS AG’s target price would suggest a potential upside of 21.54% from the stock’s previous close.
Several other research firms have also recently issued reports on RDC. Jefferies Group LLC restated a “hold” rating and set a $12.00 target price (down previously from $15.00) on shares of Rowan Companies PLC in a research note on Tuesday, July 18th. BMO Capital Markets set a $12.00 target price on shares of Rowan Companies PLC and gave the company a “hold” rating in a research note on Tuesday, October 17th. ValuEngine upgraded shares of Rowan Companies PLC from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Seaport Global Securities upgraded shares of Rowan Companies PLC from a “sell” rating to a “neutral” rating and upped their target price for the company from $10.00 to $11.00 in a research note on Thursday, July 20th. Finally, Royal Bank Of Canada set a $14.00 target price on shares of Rowan Companies PLC and gave the company a “hold” rating in a research note on Sunday, October 8th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Rowan Companies PLC has a consensus rating of “Hold” and a consensus price target of $16.52.
Rowan Companies PLC (NYSE RDC) opened at $14.81 on Monday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies PLC has a one year low of $9.02 and a one year high of $21.68.
Rowan Companies PLC (NYSE:RDC) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.26. The business had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $281.51 million. Rowan Companies PLC had a negative net margin of 4.76% and a negative return on equity of 0.61%. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. equities research analysts expect that Rowan Companies PLC will post -0.82 earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in RDC. BlackRock Inc. grew its holdings in Rowan Companies PLC by 4,558.9% during the 1st quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock valued at $171,191,000 after buying an additional 10,752,038 shares in the last quarter. Northern Trust Corp grew its holdings in Rowan Companies PLC by 145.7% during the 2nd quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock valued at $32,274,000 after buying an additional 1,869,194 shares in the last quarter. Odey Asset Management Group Ltd purchased a new stake in Rowan Companies PLC during the 2nd quarter valued at approximately $16,866,000. Key Group Holdings Cayman LTD. grew its holdings in Rowan Companies PLC by 142.8% during the 2nd quarter. Key Group Holdings Cayman LTD. now owns 2,783,345 shares of the oil and gas company’s stock valued at $28,501,000 after buying an additional 1,636,896 shares in the last quarter. Finally, State Street Corp grew its holdings in Rowan Companies PLC by 24.1% during the 2nd quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock valued at $52,005,000 after buying an additional 986,257 shares in the last quarter.
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.
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