Brokerages Set Rowan Companies PLC (RDC) Target Price at $14.45

Shares of Rowan Companies PLC (NYSE:RDC) have received an average rating of “Hold” from the twenty-two analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.45.

Several brokerages recently commented on RDC. Zacks Investment Research downgraded shares of Rowan Companies from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. UBS Group set a $13.00 price objective on shares of Rowan Companies and gave the company a “buy” rating in a research report on Thursday, December 20th. ValuEngine downgraded shares of Rowan Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. DNB Markets raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Finally, TheStreet downgraded shares of Rowan Companies from a “c-” rating to a “d+” rating in a research report on Friday, November 30th.

Several hedge funds have recently made changes to their positions in RDC. Endurance Wealth Management Inc. increased its position in shares of Rowan Companies by 600.0% during the 4th quarter. Endurance Wealth Management Inc. now owns 7,000 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 6,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in Rowan Companies in the 3rd quarter worth approximately $218,000. PEAK6 Investments LLC bought a new position in Rowan Companies in the 3rd quarter worth approximately $235,000. Nisa Investment Advisors LLC bought a new position in Rowan Companies in the 4th quarter worth approximately $250,000. Finally, Fox Run Management L.L.C. bought a new position in Rowan Companies in the 3rd quarter worth approximately $261,000. Hedge funds and other institutional investors own 99.06% of the company’s stock.

Shares of RDC stock traded up $0.51 during trading hours on Tuesday, reaching $12.12. The stock had a trading volume of 3,261,038 shares, compared to its average volume of 2,517,642. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.45. Rowan Companies has a 12 month low of $7.77 and a 12 month high of $20.87. The firm has a market capitalization of $1.54 billion, a P/E ratio of -18.94 and a beta of 2.22.

Rowan Companies (NYSE:RDC) last announced its earnings results on Wednesday, October 31st. The oil and gas company reported ($1.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.15) by $0.02. The business had revenue of $192.90 million during the quarter, compared to analyst estimates of $179.39 million. Rowan Companies had a negative net margin of 23.47% and a negative return on equity of 7.11%. Rowan Companies’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) earnings per share. Sell-side analysts predict that Rowan Companies will post -3.7 EPS for the current year.

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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Analyst Recommendations for Rowan Companies (NYSE:RDC)

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