An issue of Rowan Companies PLC (NYSE:RDC) debt fell 1.3% against its face value during trading on Wednesday. The high-yield debt issue has a 7.375% coupon and will mature on June 15, 2025. The debt is now trading at $95.10 and was trading at $96.75 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

Several research firms have recently weighed in on RDC. Susquehanna Bancshares set a $14.00 price objective on shares of Rowan Companies and gave the company a “hold” rating in a research note on Wednesday, February 14th. Piper Jaffray Companies set a $17.00 price objective on shares of Rowan Companies and gave the company a “hold” rating in a research note on Wednesday, February 14th. DNB Markets upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, February 14th. B. Riley set a $16.00 price objective on shares of Rowan Companies and gave the company a “buy” rating in a research note on Friday, January 5th. Finally, Zacks Investment Research upgraded shares of Rowan Companies from a “sell” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.32.

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Shares of Rowan Companies PLC (NYSE:RDC) traded up $0.28 on Wednesday, hitting $12.11. The stock had a trading volume of 3,790,306 shares, compared to its average volume of 3,007,985. Rowan Companies PLC has a 12-month low of $9.02 and a 12-month high of $17.33. The company has a market capitalization of $1,526.58, a PE ratio of 21.63 and a beta of 1.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 6.06 and a current ratio of 6.06.

Rowan Companies (NYSE:RDC) last posted its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.05). The company had revenue of $296.70 million during the quarter, compared to the consensus estimate of $270.28 million. Rowan Companies had a negative return on equity of 1.52% and a net margin of 5.67%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. equities analysts expect that Rowan Companies PLC will post -3.17 earnings per share for the current year.

In other Rowan Companies news, CFO Stephen M. Butz sold 3,671 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $12.99, for a total value of $47,686.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. boosted its stake in Rowan Companies by 3,057.4% in the fourth quarter. Assetmark Inc. now owns 8,525 shares of the oil and gas company’s stock worth $134,000 after buying an additional 8,255 shares in the last quarter. Investors Research Corp purchased a new stake in Rowan Companies in the fourth quarter worth approximately $177,000. Two Sigma Securities LLC purchased a new stake in Rowan Companies in the fourth quarter worth approximately $178,000. Virtu Financial LLC purchased a new stake in Rowan Companies in the fourth quarter worth approximately $184,000. Finally, LMR Partners LLP purchased a new stake in Rowan Companies in the third quarter worth approximately $165,000.

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Rowan Companies 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. 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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