Equities research analysts expect Rowan Companies PLC (NYSE:RDC) to announce $183.71 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Rowan Companies’ earnings. The lowest sales estimate is $170.00 million and the highest is $195.00 million. Rowan Companies reported sales of $291.60 million during the same quarter last year, which suggests a negative year-over-year growth rate of 37%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Rowan Companies will report full-year sales of $764.38 million for the current financial year, with estimates ranging from $729.00 million to $807.50 million. For the next year, analysts expect that the firm will post sales of $642.93 million per share, with estimates ranging from $515.65 million to $732.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Rowan Companies.

Rowan Companies (NYSE:RDC) last released its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.33. The company had revenue of $241.30 million for the quarter, compared to the consensus estimate of $207.71 million. Rowan Companies had a negative return on equity of 4.70% and a negative net margin of 9.41%. Rowan Companies’s quarterly revenue was down 24.6% on a year-over-year basis. During the same period last year, the business posted ($0.25) EPS.

RDC has been the topic of several recent research reports. Citigroup increased their target price on Rowan Companies from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, June 21st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $16.00 target price on shares of Rowan Companies in a research report on Friday, July 20th. B. Riley set a $16.00 target price on Rowan Companies and gave the company a “buy” rating in a research report on Thursday, June 7th. Barclays increased their target price on Rowan Companies from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Thursday, August 9th. Finally, ValuEngine raised Rowan Companies from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.05.

RDC opened at $14.86 on Friday. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -23.22 and a beta of 1.86. Rowan Companies has a 52 week low of $9.67 and a 52 week high of $17.33.

In other news, VP Richard Jason Anderson sold 6,000 shares of the firm’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $14.67, for a total value of $88,020.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Teza Capital Management LLC acquired a new stake in shares of Rowan Companies in the 1st quarter worth $140,000. Ahrens Investment Partners LLC acquired a new stake in shares of Rowan Companies in the 1st quarter worth $162,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Rowan Companies in the 2nd quarter worth $162,000. Verition Fund Management LLC acquired a new stake in shares of Rowan Companies in the 1st quarter worth $170,000. Finally, Matarin Capital Management LLC acquired a new stake in shares of Rowan Companies in the 1st quarter worth $185,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

About Rowan Companies

Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.

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

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