Rowan Companies PLC (RDC) Expected to Announce Quarterly Sales of $268.36 Million
Wall Street brokerages expect Rowan Companies PLC (NYSE:RDC) to report sales of $268.36 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Rowan Companies’ earnings, with the lowest sales estimate coming in at $254.00 million and the highest estimate coming in at $283.27 million. Rowan Companies posted sales of $351.80 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 23.7%. The firm is expected to issue its next earnings results on Friday, February 23rd.
According to Zacks, analysts expect that Rowan Companies will report full-year sales of $268.36 million for the current fiscal year, with estimates ranging from $1.21 billion to $1.27 billion. For the next year, analysts forecast that the business will post sales of $872.67 million per share, with estimates ranging from $754.00 million to $972.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Rowan Companies.
Rowan Companies (NYSE:RDC) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the 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 net margin of 4.76% and a negative return on equity of 0.61%. The business’s quarterly revenue was down 23.1% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS.
Several equities analysts have recently weighed in on RDC shares. Zacks Investment Research raised shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, October 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $15.00 price target on shares of Rowan Companies in a research note on Sunday, October 22nd. FBR & Co reaffirmed a “buy” rating on shares of Rowan Companies in a research note on Thursday, October 19th. started coverage on shares of Rowan Companies in a research note on Thursday, October 19th. They set a “buy” rating and a $16.80 price target for the company. Finally, B. Riley reaffirmed a “buy” rating on shares of Rowan Companies in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $16.22.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Rowan Companies by 140.0% in the second quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock valued at $16,800,000 after buying an additional 957,047 shares in the last quarter. Sterling Capital Management LLC bought a new position in shares of Rowan Companies in the second quarter valued at $922,000. Royal Bank of Canada grew its stake in shares of Rowan Companies by 296.6% in the second quarter. Royal Bank of Canada now owns 38,316 shares of the oil and gas company’s stock valued at $392,000 after buying an additional 28,656 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Rowan Companies by 5.5% in the third quarter. Macquarie Group Ltd. now owns 287,295 shares of the oil and gas company’s stock valued at $3,692,000 after buying an additional 14,850 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in Rowan Companies by 270.2% during the second quarter. Cubist Systematic Strategies LLC now owns 42,926 shares of the oil and gas company’s stock worth $440,000 after purchasing an additional 31,331 shares during the period.
Rowan Companies (NYSE RDC) opened at $16.47 on Thursday. The firm has a market cap of $2,090.00, a P/E ratio of -32.29 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 quick ratio of 5.80 and a current ratio of 5.80.
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.
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