Rowan Companies PLC (NYSE:RDC) – Equities researchers at Seaport Global Securities lowered their Q3 2017 earnings estimates for shares of Rowan Companies PLC in a research note issued on Thursday. Seaport Global Securities analyst M. Urban now anticipates that the oil and gas company will earn ($0.43) per share for the quarter, down from their prior forecast of ($0.39). Seaport Global Securities has a “Neutral” rating and a $11.00 price objective on the stock. Seaport Global Securities also issued estimates for Rowan Companies PLC’s Q4 2017 earnings at ($0.28) EPS, FY2017 earnings at ($0.88) EPS, Q1 2018 earnings at ($0.35) EPS, Q2 2018 earnings at ($0.52) EPS, Q4 2018 earnings at ($0.70) EPS, FY2018 earnings at ($2.15) EPS, Q1 2019 earnings at ($0.80) EPS, Q2 2019 earnings at ($0.79) EPS and FY2019 earnings at ($3.15) EPS.

Rowan Companies PLC (NYSE:RDC) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, topping the 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 firm had revenue of $320.20 million for the quarter, compared to analysts’ expectations of $296.87 million. During the same period in the previous year, the business earned $0.75 earnings per share. Rowan Companies PLC’s revenue for the quarter was down 47.7% compared to the same quarter last year.

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Other analysts have also recently issued research reports about the company. Jefferies Group LLC decreased their target price on Rowan Companies PLC from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Wednesday, May 3rd. Barclays PLC reiterated a “hold” rating and issued a $14.00 price target on shares of Rowan Companies PLC in a report on Friday. BMO Capital Markets reiterated a “hold” rating and issued a $15.00 price target on shares of Rowan Companies PLC in a report on Thursday, June 22nd. Nomura decreased their price target on Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Finally, TheStreet cut Rowan Companies PLC from a “c” rating to a “d” rating in a report on Wednesday, August 2nd. Four equities 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 a consensus rating of “Hold” and an average target price of $16.37.

Shares of Rowan Companies PLC (NYSE RDC) opened at 10.97 on Monday. The firm has a 50-day moving average of $11.13 and a 200 day moving average of $14.40. The company’s market capitalization is $1.39 billion. Rowan Companies PLC has a 12 month low of $9.74 and a 12 month high of $21.68.

Several large investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in Rowan Companies PLC by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 109,692 shares of the oil and gas company’s stock worth $1,707,000 after buying an additional 7,068 shares in the last quarter. Wright Investors Service Inc. raised its stake in shares of Rowan Companies PLC by 31.8% in the first quarter. Wright Investors Service Inc. now owns 31,095 shares of the oil and gas company’s stock worth $484,000 after buying an additional 7,495 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Rowan Companies PLC by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,948 shares of the oil and gas company’s stock worth $685,000 after buying an additional 600 shares in the last quarter. Breton Hill Capital Ltd. raised its stake in shares of Rowan Companies PLC by 229.5% in the first quarter. Breton Hill Capital Ltd. now owns 51,530 shares of the oil and gas company’s stock worth $803,000 after buying an additional 91,332 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of Rowan Companies PLC by 0.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,500 shares of the oil and gas company’s stock worth $226,000 after buying an additional 100 shares in the last quarter.

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.

Earnings History and Estimates for Rowan Companies PLC (NYSE:RDC)

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