Rowan Companies PLC (RDC) Earns “Hold” Rating from Scotiabank
Rowan Companies PLC (NYSE:RDC)‘s stock had its “hold” rating reissued by Scotiabank in a research report issued on Wednesday. They presently have a $22.00 price target on the oil and gas company’s stock. Scotiabank’s price target indicates a potential upside of 54.28% from the stock’s current price.
RDC has been the subject of a number of other reports. Royal Bank of Canada reiterated an “underperform” rating and issued a $20.00 price objective (down from $23.00) on shares of Rowan Companies PLC in a report on Thursday, February 2nd. Jefferies Group LLC cut Rowan Companies PLC from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a report on Monday, January 30th. Zacks Investment Research cut Rowan Companies PLC from a “buy” rating to a “hold” rating in a report on Tuesday, January 3rd. Zephirin Group restated a “buy” rating and set a $22.00 target price (up from $20.00) on shares of Rowan Companies PLC in a report on Tuesday, December 27th. Finally, Barclays PLC reiterated a “hold” rating and issued a $19.00 price objective on shares of Rowan Companies PLC in a report on Tuesday, January 10th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.61.
Rowan Companies PLC (NYSE:RDC) opened at 14.26 on Wednesday. Rowan Companies PLC has a 12 month low of $12.00 and a 12 month high of $21.68. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 5.59 and a beta of 1.68. The company’s 50-day moving average is $15.30 and its 200 day moving average is $16.76.
Rowan Companies PLC (NYSE:RDC) last announced its earnings results on Friday, February 24th. The oil and gas company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $351.80 million for the quarter, compared to analyst estimates of $343.71 million. Rowan Companies PLC had a return on equity of 7.52% and a net margin of 23.15%. The company’s quarterly revenue was down 34.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. Equities analysts forecast that Rowan Companies PLC will post ($1.00) earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece of content was first posted by Marea Informative and is the property of of Marea Informative. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at http://www.mareainformativa.com/rowan-companies-plc-rdc-hold-rating-reitero-en-scotiabank/108191/.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Rowan Companies PLC by 4.5% in the third quarter. BlackRock Fund Advisors now owns 4,905,203 shares of the oil and gas company’s stock worth $74,363,000 after buying an additional 210,253 shares during the period. FIL Ltd increased its position in Rowan Companies PLC by 1.1% in the fourth quarter. FIL Ltd now owns 4,864,877 shares of the oil and gas company’s stock valued at $91,898,000 after buying an additional 52,475 shares during the period. Acadian Asset Management LLC increased its position in Rowan Companies PLC by 36.2% in the third quarter. Acadian Asset Management LLC now owns 4,373,374 shares of the oil and gas company’s stock valued at $66,300,000 after buying an additional 1,161,516 shares during the period. Luminus Management LLC bought a new position in Rowan Companies PLC during the fourth quarter valued at $48,498,000. Finally, Franklin Resources Inc. increased its position in Rowan Companies PLC by 77.8% in the fourth quarter. Franklin Resources Inc. now owns 2,438,264 shares of the oil and gas company’s stock valued at $46,059,000 after buying an additional 1,066,584 shares during the period.
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.
Receive News & Stock Ratings for Rowan Companies PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies PLC and related stocks with our FREE daily email newsletter.