Shares of Rowan Cos. (NYSE:RDC) traded down 2.7% during trading on Tuesday . The stock traded as low as $12.67 and last traded at $12.67, with a volume of 1,195,393 shares trading hands. The stock had previously closed at $13.02.

RDC has been the subject of several research reports. Jefferies Group reduced their price objective on Rowan Cos. from $21.00 to $16.00 in a report on Thursday, May 5th. Zacks Investment Research cut Rowan Cos. from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Iberia Capital cut Rowan Cos. from an “outperform” rating to a “sector perform” rating and set a $19.00 price objective for the company. in a report on Tuesday, July 5th. Citigroup Inc. reaffirmed a “neutral” rating on shares of Rowan Cos. in a report on Wednesday, August 3rd. Finally, Royal Bank Of Canada reduced their price objective on Rowan Cos. from $22.00 to $16.00 and set a “sector perform” rating for the company in a report on Friday, August 12th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the company. Rowan Cos. presently has an average rating of “Hold” and a consensus price target of $18.25.

The company has a 50-day moving average of $14.94 and a 200-day moving average of $16.12. The firm has a market cap of $1.60 billion and a price-to-earnings ratio of 7.11.

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 Zacks’ consensus estimate of $0.81 by $0.06. The firm had revenue of $611.90 million for the quarter, compared to analyst estimates of $470.98 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company’s revenue was up 20.3% compared to the same quarter last year. On average, equities analysts forecast that Rowan Cos. will post $1.66 EPS for the current year.

A hedge fund recently raised its stake in Rowan Cos. stock. I.G. Investment Management LTD. increased its position in Rowan Cos. (NYSE:RDC) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,969 shares of the company’s stock after buying an additional 4,700 shares during the period. I.G. Investment Management LTD. owned approximately 0.19% of Rowan Cos. worth $4,067,000 as of its most recent SEC filing.

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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