Shares of Rowan Cos. (NYSE:RDC) were down 5.8% on Monday . The stock traded as low as $14.21 and last traded at $14.35, with a volume of 1,895,186 shares trading hands. The stock had previously closed at $15.24.

A number of research firms have issued reports on RDC. Raymond James Financial Inc. cut Rowan Cos. from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. Zacks Investment Research cut Rowan Cos. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Stephens raised Rowan Cos. from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $23.00 in a research note on Tuesday, July 12th. Jefferies Group reissued a “buy” rating on shares of Rowan Cos. in a research note on Sunday, July 10th. Finally, Evercore ISI reissued a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Rowan Cos. in a research note on Thursday, July 7th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.83.

The company has a market capitalization of $1.82 billion and a PE ratio of 19.58. The company has a 50-day moving average of $17.31 and a 200-day moving average of $15.88.

Rowan Cos. (NYSE:RDC) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.26. The business earned $500.20 million during the quarter, compared to analyst estimates of $492.85 million. The company’s revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that Rowan Cos. will post $1.95 earnings per share for the current year.

Several hedge funds recently made changes to their positions in RDC. Comerica Bank boosted its stake in shares of Rowan Cos. by 1.3% in the fourth quarter. Comerica Bank now owns 92,808 shares of the company’s stock worth $1,331,000 after buying an additional 1,228 shares during the period. I.G. Investment Management LTD. boosted its stake in shares of Rowan Cos. by 2.0% in the fourth quarter. I.G. Investment Management LTD. now owns 239,969 shares of the company’s stock worth $4,067,000 after buying an additional 4,700 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Rowan Cos. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 401,800 shares of the company’s stock worth $6,810,000 after buying an additional 11,265 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in shares of Rowan Cos. by 50.5% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 79,874 shares of the company’s stock worth $1,354,000 after buying an additional 26,818 shares during the period. Finally, Morgan Stanley boosted 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 worth $18,095,000 after buying an additional 64,912 shares during the period.

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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