Rowan Cos. (RDC) PT Lowered to $14.15 at Piper Jaffray Cos.
Rowan Cos. (NYSE:RDC) had its price objective lowered by Piper Jaffray Cos. from $15.50 to $14.15 in a research note issued to investors on Friday morning. The firm currently has an overweight rating on the stock.
A number of other analysts have also commented on RDC. Jefferies Group reiterated a buy rating on shares of Rowan Cos. in a research note on Sunday, July 10th. Zacks Investment Research lowered shares of Rowan Cos. from a hold rating to a sell rating in a research note on Wednesday, July 13th. Citigroup Inc. reiterated a neutral rating on shares of Rowan Cos. in a research note on Wednesday, August 3rd. Iberia Capital lowered shares of Rowan Cos. from an outperform rating to a sector perform rating and set a $19.00 target price for the company. in a research report on Tuesday, July 5th. Finally, Royal Bank Of Canada cut their target price on shares of Rowan Cos. from $22.00 to $16.00 and set a sector perform rating for the company in a research report on Friday, August 12th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $17.78.
Shares of Rowan Cos. (NYSE:RDC) opened at 12.76 on Friday. The stock has a market capitalization of $1.60 billion, a PE ratio of 7.13 and a beta of 1.61. The firm has a 50-day moving average of $13.43 and a 200 day moving average of $16.11. Rowan Cos. has a 1-year low of $10.67 and a 1-year high of $21.83.
Rowan Cos. (NYSE:RDC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by $0.06. Rowan Cos. had a return on equity of 9.22% and a net margin of 10.24%. The company earned $611.90 million during the quarter, compared to the consensus estimate of $470.98 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s revenue was up 20.3% compared to the same quarter last year. Analysts predict that Rowan Cos. will post $1.66 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its position in shares of Rowan Cos. by 75.6% in the second quarter. LS Investment Advisors LLC now owns 7,582 shares of the company’s stock worth $134,000 after buying an additional 3,265 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Rowan Cos. by 91.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,666 shares of the company’s stock worth $135,000 after buying an additional 3,658 shares during the last quarter. Rational Advisors LLC purchased a new position in shares of Rowan Cos. during the second quarter worth $143,000. Bank of Hawaii purchased a new position in shares of Rowan Cos. during the second quarter worth $179,000. Finally, Smith Asset Management Group LP purchased a new position in shares of Rowan Cos. during the second quarter worth $202,000.
Rowan Cos. Company Profile
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.
Receive News & Ratings for Rowan Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Cos. and related companies with MarketBeat.com's FREE daily email newsletter.