Rowan Companies PLC (NYSE:RDC) – Investment analysts at Jefferies Group cut their Q4 2017 earnings per share (EPS) estimates for Rowan Companies PLC in a research note issued on Wednesday. Jefferies Group analyst E. Royes now forecasts that the oil and gas company will post earnings per share of ($0.23) for the quarter, down from their prior forecast of ($0.17). Jefferies Group has a “Hold” rating and a $15.00 price target on the stock. Jefferies Group also issued estimates for Rowan Companies PLC’s Q1 2018 earnings at ($0.35) EPS, Q2 2018 earnings at ($0.50) EPS, Q3 2018 earnings at ($0.63) EPS, Q4 2018 earnings at ($0.88) EPS, FY2018 earnings at ($2.35) EPS, FY2019 earnings at ($2.40) EPS and FY2020 earnings at ($1.05) EPS.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Rowan Companies PLC from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, October 17th. UBS AG upgraded 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 note on Monday, September 25th. BidaskClub upgraded Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. FBR & Co reiterated a “buy” rating on shares of Rowan Companies PLC in a research report on Thursday, October 19th. Finally, Cowen and Company set a $10.00 price target on Rowan Companies PLC and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $16.52.

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Shares of Rowan Companies PLC (RDC) traded down $0.01 during trading hours on Monday, reaching $14.88. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $21.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.80 and a current ratio of 5.80.

Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.26. Rowan Companies PLC had a negative return on equity of 0.61% and a negative net margin of 4.76%. The company had revenue of $291.60 million during the quarter, compared to the consensus estimate of $281.51 million. During the same period in the previous year, the company posted $0.30 earnings per share. Rowan Companies PLC’s revenue for the quarter was down 23.1% on a year-over-year basis.

A number of large investors have recently modified their holdings of RDC. Principal Financial Group Inc. lifted its position in Rowan Companies PLC by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 518,215 shares of the oil and gas company’s stock worth $8,074,000 after buying an additional 17,065 shares in the last quarter. FMR LLC grew its stake in Rowan Companies PLC by 12.1% in the 1st quarter. FMR LLC now owns 683,615 shares of the oil and gas company’s stock valued at $10,651,000 after buying an additional 73,851 shares during the last quarter. UBS Group AG grew its stake in Rowan Companies PLC by 57.3% in the 1st quarter. UBS Group AG now owns 83,070 shares of the oil and gas company’s stock valued at $1,294,000 after buying an additional 30,266 shares during the last quarter. Morgan Stanley grew its stake in Rowan Companies PLC by 40.6% in the 1st quarter. Morgan Stanley now owns 354,777 shares of the oil and gas company’s stock valued at $5,528,000 after buying an additional 102,393 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Rowan Companies PLC by 4,558.9% during the 1st quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock worth $171,191,000 after purchasing an additional 10,752,038 shares in the last quarter.

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.

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

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