Zephirin Group upgraded shares of Rowan Cos. (NYSE:RDC) from a hold rating to a buy rating in a research note published on Monday morning. The brokerage currently has $18.00 price target on the stock.

Analyst Recommendations for Rowan Cos. (NYSE:RDC)

RDC has been the subject of several other research reports. JPMorgan Chase & Co. set a $19.00 price target on shares of Rowan Cos. and gave the company a buy rating in a research report on Wednesday, August 3rd. FBR & Co reissued a buy rating on shares of Rowan Cos. in a research report on Monday. Evercore ISI reissued a buy rating and issued a $23.00 price target (up previously from $22.00) on shares of Rowan Cos. in a research report on Thursday, July 7th. Jefferies Group reissued a buy rating and issued a $18.00 price target on shares of Rowan Cos. in a research report on Wednesday, August 17th. Finally, Credit Suisse Group AG set a $15.00 price target on shares of Rowan Cos. and gave the company a buy rating in a research report on Saturday, September 17th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company. Rowan Cos. has a consensus rating of Hold and a consensus target price of $17.78.

Rowan Cos. (NYSE:RDC) opened at 13.49 on Monday. Rowan Cos. has a 12 month low of $10.67 and a 12 month high of $21.83. The stock has a 50 day moving average of $13.41 and a 200 day moving average of $16.09. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 7.54 and a beta of 1.61.

Rowan Cos. (NYSE:RDC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.06. Rowan Cos. had a net margin of 10.24% and a return on equity of 9.22%. The business earned $611.90 million during the quarter, compared to analyst estimates of $470.98 million. During the same period in the previous year, the business 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 $1.67 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in RDC. Nuveen Asset Management LLC boosted its position in shares of Rowan Cos. by 490.4% in the first quarter. Nuveen Asset Management LLC now owns 293,756 shares of the company’s stock valued at $4,729,000 after buying an additional 244,000 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Rowan Cos. by 1,428.0% in the second quarter. BNP Paribas Arbitrage SA now owns 96,537 shares of the company’s stock valued at $1,705,000 after buying an additional 90,219 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Rowan Cos. by 105.7% in the first quarter. BlackRock Group LTD now owns 130,743 shares of the company’s stock valued at $2,105,000 after buying an additional 67,171 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Rowan Cos. by 12.7% in the first quarter. Canada Pension Plan Investment Board now owns 27,600 shares of the company’s stock valued at $444,000 after buying an additional 3,100 shares during the last quarter. Finally, James Investment Research Inc. purchased a new position in shares of Rowan Cos. during the second quarter valued at about $261,000.

About Rowan Cos.

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.

5 Day Chart for NYSE:RDC

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