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.

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

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.

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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.

5 Day Chart for NYSE:RDC

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