Rowan Cos. (RDC) Price Target Lowered to $14.15 at Piper Jaffray Cos.
Other analysts also recently issued research reports about the company. Evercore ISI restated a buy rating on shares of Rowan Cos. in a report on Wednesday, June 29th. Johnson Rice upgraded Rowan Cos. from an accumulate rating to a buy rating in a report on Monday, June 13th. Jefferies Group reiterated a buy rating on shares of Rowan Cos. in a report on Sunday, July 10th. JPMorgan Chase & Co. set a $19.00 target price on Rowan Cos. and gave the company a buy rating in a report on Wednesday, August 3rd. Finally, FBR & Co reiterated a buy rating on shares of Rowan Cos. in a report on Thursday, September 8th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $17.78.
Shares of Rowan Cos. (NYSE:RDC) traded up 2.083% on Friday, reaching $12.985. 842,362 shares of the company’s stock were exchanged. Rowan Cos. has a 12 month low of $10.67 and a 12 month high of $21.83. The firm’s 50 day moving average price is $13.79 and its 200-day moving average price is $16.20. The company has a market capitalization of $1.63 billion, a P/E ratio of 7.254 and a beta of 1.61.
Rowan Cos. (NYSE:RDC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The company had revenue of $611.90 million for the quarter, compared to analyst estimates of $470.98 million. Rowan Cos. had a return on equity of 9.22% and a net margin of 10.24%. Rowan Cos.’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. On average, equities analysts anticipate that Rowan Cos. will post $1.66 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. LS Investment Advisors LLC boosted its stake in shares of Rowan Cos. by 75.6% in the second quarter. LS Investment Advisors LLC now owns 7,582 shares of the company’s stock valued at $134,000 after buying an additional 3,265 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Rowan Cos. by 91.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,666 shares of the company’s stock valued at $135,000 after buying an additional 3,658 shares during the last quarter. Rational Advisors LLC acquired a new stake in shares of Rowan Cos. during the second quarter valued at approximately $143,000. Bank of Hawaii acquired a new stake in shares of Rowan Cos. during the second quarter valued at approximately $179,000. Finally, Smith Asset Management Group LP acquired a new stake in shares of Rowan Cos. during the second quarter valued at approximately $202,000.
Rowan Cos. Company Profile
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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.
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