Rowan Companies PLC (NYSE:RDC) – Research analysts at Jefferies Group boosted their Q4 2017 earnings per share estimates for shares of Rowan Companies in a research note issued to investors on Thursday. Jefferies Group analyst E. Royes now anticipates that the oil and gas company will earn ($0.21) per share for the quarter, up from their previous estimate of ($0.23). Jefferies Group has a “Hold” rating and a $16.00 price target on the stock. Jefferies Group also issued estimates for Rowan Companies’ FY2018 earnings at ($2.65) EPS, FY2019 earnings at ($2.70) EPS, FY2020 earnings at ($1.20) EPS and FY2021 earnings at ($0.55) EPS.

Several other research firms have also recently commented on RDC. BMO Capital Markets set a $12.00 target price on Rowan Companies and gave the company a “hold” rating in a research note on Tuesday, October 17th. Royal Bank of Canada set a $14.00 target price on Rowan Companies and gave the company a “hold” rating in a research note on Sunday, October 8th. FBR & Co reissued a “buy” rating on shares of Rowan Companies in a research note on Thursday, October 19th. B. Riley reissued a “buy” rating on shares of Rowan Companies in a research note on Wednesday, November 1st. Finally, Zacks Investment Research raised Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, November 16th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.22.

Shares of Rowan Companies (RDC) opened at $17.02 on Monday. The company has a market capitalization of $2,120.00, a price-to-earnings ratio of -33.37 and a beta of 1.89. Rowan Companies has a 52 week low of $9.02 and a 52 week high of $20.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.80 and a quick ratio of 5.80.

Rowan Companies (NYSE:RDC) last released its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.26. The company had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $281.51 million. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The business’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Rowan Companies by 30.3% during the second quarter. BlackRock Inc. now owns 14,315,633 shares of the oil and gas company’s stock worth $146,590,000 after purchasing an additional 3,327,747 shares during the period. State Street Corp lifted its holdings in Rowan Companies by 24.1% during the second quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock worth $52,005,000 after acquiring an additional 986,257 shares in the last quarter. Northern Trust Corp lifted its holdings in Rowan Companies by 145.7% during the second quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock worth $32,274,000 after acquiring an additional 1,869,194 shares in the last quarter. Key Group Holdings Cayman LTD. lifted its holdings in Rowan Companies by 142.8% during the second quarter. Key Group Holdings Cayman LTD. now owns 2,783,345 shares of the oil and gas company’s stock worth $28,501,000 after acquiring an additional 1,636,896 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in Rowan Companies by 3.7% during the second quarter. Thrivent Financial For Lutherans now owns 2,089,050 shares of the oil and gas company’s stock worth $21,392,000 after acquiring an additional 74,220 shares in the last quarter.

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About Rowan Companies

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.

Earnings History and Estimates for Rowan Companies (NYSE:RDC)

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