Rowan Companies PLC (NYSE:RDC) Given a $12.00 Price Target by BMO Capital Markets Analysts
BMO Capital Markets set a $12.00 price target on Rowan Companies PLC (NYSE:RDC) in a research report sent to investors on Saturday morning. The brokerage currently has a hold rating on the oil and gas company’s stock.
Other analysts also recently issued reports about the stock. Clarkson Capital upgraded shares of Rowan Companies PLC from a neutral rating to a buy rating and set a $20.00 price objective on the stock in a report on Tuesday, May 30th. ValuEngine upgraded shares of Rowan Companies PLC from a hold rating to a buy rating in a report on Saturday, May 27th. Fearnley Fonds upgraded shares of Rowan Companies PLC to a buy rating in a report on Friday, April 28th. TheStreet downgraded shares of Rowan Companies PLC from a c rating to a d rating in a report on Wednesday. Finally, Barclays PLC lowered their price objective on shares of Rowan Companies PLC from $19.00 to $16.00 and set an equal weight rating on the stock in a report on Monday, May 1st. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $16.37.
Rowan Companies PLC (RDC) traded down 1.80% during mid-day trading on Friday, reaching $11.45. 3,167,665 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $11.13 and a 200-day moving average price of $14.40. The stock’s market cap is $1.45 billion. Rowan Companies PLC has a 1-year low of $9.74 and a 1-year high of $21.68.
Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $320.20 million for the quarter, compared to the consensus estimate of $296.87 million. During the same period last year, the company earned $0.75 earnings per share. The firm’s revenue was down 47.7% compared to the same quarter last year. Equities research analysts anticipate that Rowan Companies PLC will post ($0.92) EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its position in Rowan Companies PLC by 24.8% in the second quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 2,050 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in Rowan Companies PLC during the second quarter valued at $143,000. Neuberger Berman Group LLC boosted its position in Rowan Companies PLC by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 55 shares in the last quarter. Renaissance Group LLC purchased a new position in Rowan Companies PLC during the first quarter valued at $163,000. Finally, Strs Ohio purchased a new position in Rowan Companies PLC during the second quarter valued at $181,000.
About Rowan Companies PLC
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. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.
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