Rowan Companies PLC (NYSE:RDC) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Monday.

Several other equities analysts also recently commented on the stock. BidaskClub raised shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Bank of America Corporation cut Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. UBS AG raised Rowan Companies PLC from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $15.00 in a research report on Monday, September 25th. Cowen and Company reiterated a “hold” rating and set a $15.00 price target on shares of Rowan Companies PLC in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated a “sell” rating and set a $13.50 price target on shares of Rowan Companies PLC in a research note on Thursday, July 20th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. Rowan Companies PLC currently has a consensus rating of “Hold” and a consensus price target of $16.41.

Rowan Companies PLC (RDC) opened at 12.74 on Monday. The stock’s market capitalization is $1.61 billion. The firm has a 50-day moving average price of $10.65 and a 200 day moving average price of $12.14. Rowan Companies PLC has a 52-week low of $9.02 and a 52-week high of $21.68.

Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $320.20 million for the quarter, compared to analyst estimates of $296.87 million. During the same quarter in the prior year, the business posted $0.75 EPS. Rowan Companies PLC’s quarterly revenue was down 47.7% on a year-over-year basis. On average, equities research analysts predict that Rowan Companies PLC will post ($0.94) EPS for the current year.

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Hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC grew its holdings in shares of Rowan Companies PLC by 0.5% during the 1st quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 55 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Rowan Companies PLC by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,403 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 71 shares during the period. Comerica Bank increased its position in shares of Rowan Companies PLC by 0.3% during the second quarter. Comerica Bank now owns 104,828 shares of the oil and gas company’s stock valued at $1,182,000 after purchasing an additional 267 shares during the period. Virginia Retirement Systems ET AL increased its position in shares of Rowan Companies PLC by 1.7% during the second quarter. Virginia Retirement Systems ET AL now owns 23,432 shares of the oil and gas company’s stock valued at $240,000 after purchasing an additional 400 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Rowan Companies PLC by 0.3% during the second quarter. Retirement Systems of Alabama now owns 162,562 shares of the oil and gas company’s stock valued at $1,665,000 after purchasing an additional 546 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.

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

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