Rowan Cos.’s (RDC) “Buy” Rating Reaffirmed at Evercore ISI
Other equities analysts have also issued research reports about the company. Jefferies Group reaffirmed a buy rating on shares of Rowan Cos. in a report on Sunday, July 10th. Credit Suisse Group AG set a $15.00 target price on shares of Rowan Cos. and gave the stock a buy rating in a research note on Saturday, September 17th. Scotiabank started coverage on shares of Rowan Cos. in a research note on Wednesday, September 14th. They set a sector perform rating and a $17.00 target price for the company. Royal Bank Of Canada decreased 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 note on Friday, August 12th. Finally, Zacks Investment Research downgraded shares of Rowan Cos. from a hold rating to a sell rating in a research note on Wednesday, July 13th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Rowan Cos. has an average rating of Hold and a consensus price target of $17.78.
Shares of Rowan Cos. (NYSE:RDC) opened at 14.06 on Thursday. The stock has a 50 day moving average price of $13.41 and a 200-day moving average price of $16.08. The firm has a market cap of $1.76 billion, a PE ratio of 7.85 and a beta of 1.61. Rowan Cos. has a 52-week low of $10.67 and a 52-week high of $21.83.
Rowan Cos. (NYSE:RDC) last issued its quarterly earnings data 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. The firm had revenue of $611.90 million for the quarter, compared to analysts’ expectations of $470.98 million. Rowan Cos. had a return on equity of 9.22% and a net margin of 10.24%. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. On average, equities analysts anticipate that Rowan Cos. will post $1.67 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its position in Rowan Cos. by 75.6% in the second quarter. LS Investment Advisors LLC now owns 7,582 shares of the company’s stock valued at $134,000 after buying an additional 3,265 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Rowan Cos. by 91.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,666 shares of the company’s stock valued at $135,000 after buying an additional 3,658 shares during the last quarter. Rational Advisors LLC acquired a new position in Rowan Cos. during the second quarter valued at $143,000. Bank of Hawaii acquired a new position in Rowan Cos. during the second quarter valued at $179,000. Finally, Smith Asset Management Group LP acquired a new position in Rowan Cos. during the second quarter valued at $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.
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