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

Several research analysts have recently issued reports on RDC shares. Clarkson Capital reaffirmed a “neutral” rating on shares of Rowan Cos. in a research report on Monday, April 11th. Jefferies Group reduced their price objective on shares of Rowan Cos. from $21.00 to $16.00 in a research note on Thursday, May 5th. FBR & Co reaffirmed a “buy” rating on shares of Rowan Cos. in a research note on Friday, April 22nd. Evercore ISI reiterated a “buy” rating and issued a $23.00 price target (up previously from $22.00) on shares of Rowan Cos. in a report on Thursday, July 7th. Finally, Raymond James Financial Inc. cut shares of Rowan Cos. from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 26th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.83.

The firm has a market cap of $1.79 billion and a P/E ratio of 19.22. The company has a 50-day moving average price of $17.19 and a 200-day moving average price of $15.89.

Rowan Cos. (NYSE:RDC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The company had revenue of $611.90 million for the quarter, compared to the consensus estimate of $470.98 million. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. Equities analysts anticipate that Rowan Cos. will post $1.95 earnings per share for the current year.

Other large investors have added to or reduced their stakes in the company. Liberty Mutual Group Asset Management Inc. increased its stake in 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 valued at $1,354,000 after buying an additional 26,818 shares during the period. Comerica Bank increased 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 last quarter. Systematic Financial Management LP purchased a new stake in shares of Rowan Cos. during the fourth quarter worth about $1,619,000. I.G. Investment Management LTD. increased 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 last quarter. Finally, Principal Financial Group Inc. increased 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 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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