Rowan Cos. (NYSE:RDC) shares dropped 4.2% during trading on Friday . The stock traded as low as $16.03 and last traded at $16.13, with a volume of 1,525,456 shares traded. The stock had previously closed at $16.83.

RDC has been the subject of several research analyst reports. Barclays PLC lowered their price target on Rowan Cos. from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, March 28th. Nomura Holdings Inc. initiated coverage on Rowan Cos. in a research report on Friday, April 8th. They set a “neutral” rating and a $14.00 price target for the company. Clarkson Capital restated a “neutral” rating on shares of Rowan Cos. in a research report on Monday, April 11th. Royal Bank Of Canada raised their price target on Rowan Cos. from $15.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Friday, April 22nd. Finally, FBR & Co restated a “buy” rating on shares of Rowan Cos. in a research report on Friday, April 22nd. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. Rowan Cos. has an average rating of “Hold” and an average target price of $18.83.

The stock has a market cap of $2.01 billion and a price-to-earnings ratio of 21.65. The company has a 50 day moving average of $17.85 and a 200 day moving average of $15.81.

Rowan Cos. (NYSE:RDC) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.26. During the same quarter last year, the company earned $0.99 EPS. The business had revenue of $500.20 million for the quarter, compared to analyst estimates of $492.85 million. Rowan Cos.’s revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts expect that Rowan Cos. will post $1.99 earnings per share for the current fiscal year.

A number of large investors have added to or reduced their stakes in RDC. Dimensional Fund Advisors LP raised its stake in Rowan Cos. by 31.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,325,463 shares of the company’s stock valued at $141,115,000 after buying an additional 2,004,592 shares during the period. Morgan Stanley raised its stake in shares of Rowan Cos. by 6.5% in the fourth quarter. Morgan Stanley now owns 1,067,600 shares of the company’s stock valued at $18,095,000 after buying an additional 64,912 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Rowan Cos. by 27.0% in the fourth quarter. California Public Employees Retirement System now owns 527,100 shares of the company’s stock valued at $8,934,000 after buying an additional 111,900 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Rowan Cos. by 36.0% in the fourth quarter. First Trust Advisors LP now owns 466,705 shares of the company’s stock valued at $7,911,000 after buying an additional 123,524 shares during the last quarter. Finally, Russell Frank Co raised its stake in shares of Rowan Cos. by 96.9% in the fourth quarter. Russell Frank Co now owns 447,545 shares of the company’s stock valued at $7,510,000 after buying an additional 220,293 shares during the last quarter.

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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