Rowan Companies (NYSE:RDC) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c-” rating in a report released on Friday.
RDC has been the subject of several other reports. Citigroup lifted their price objective on Rowan Companies from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, June 21st. B. Riley set a $20.00 price target on Rowan Companies and gave the company a “buy” rating in a research note on Friday, September 7th. Piper Jaffray Companies restated a “hold” rating and set a $16.00 price target on shares of Rowan Companies in a research note on Friday, July 20th. Credit Suisse Group upgraded Rowan Companies from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $16.00 to $20.00 in a research note on Monday, September 24th. Finally, BTIG Research started coverage on Rowan Companies in a research note on Monday, September 17th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Rowan Companies has a consensus rating of “Buy” and a consensus target price of $15.68.
NYSE RDC opened at $19.65 on Friday. Rowan Companies has a one year low of $10.94 and a one year high of $19.68. The stock has a market capitalization of $2.39 billion, a P/E ratio of -30.70 and a beta of 1.80. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 0.48.
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. Rowan Companies had a negative return on equity of 4.70% and a negative net margin of 9.41%. The company had revenue of $241.30 million during the quarter, compared to the consensus estimate of $207.71 million. During the same period last year, the company earned ($0.25) EPS. Rowan Companies’s revenue for the quarter was down 24.6% on a year-over-year basis. On average, sell-side analysts expect that Rowan Companies will post -3.55 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Ahrens Investment Partners LLC purchased a new position in shares of Rowan Companies during the 1st quarter valued at about $162,000. Oppenheimer & Co. Inc. purchased a new position in shares of Rowan Companies during the 2nd quarter valued at about $162,000. Verition Fund Management LLC purchased a new position in shares of Rowan Companies during the 1st quarter valued at about $170,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rowan Companies during the 1st quarter valued at about $191,000. Finally, GWM Advisors LLC purchased a new position in shares of Rowan Companies during the 2nd quarter valued at about $197,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
Rowan Companies Company Profile
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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