Rowan Companies PLC (NYSE:RDC)‘s stock had its “buy” rating restated by research analysts at FBR & Co in a research report issued to clients and investors on Thursday.

Several other research analysts have also commented on RDC. Seaport Global Securities lowered shares of Rowan Companies PLC from a “neutral” rating to a “sell” rating and decreased their price target for the company from $12.00 to $10.00 in a report on Wednesday, June 21st. BMO Capital Markets reaffirmed a “hold” rating and issued a $15.00 price target on shares of Rowan Companies PLC in a report on Thursday, June 22nd. BidaskClub lowered shares of Rowan Companies PLC from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Bank of America Corporation lowered shares of Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $12.00 price target (down from $15.00) on shares of Rowan Companies PLC in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Rowan Companies PLC presently has a consensus rating of “Hold” and a consensus target price of $16.10.

Shares of Rowan Companies PLC (RDC) opened at 13.10 on Thursday. The stock’s market capitalization is $1.65 billion. Rowan Companies PLC has a one year low of $9.02 and a one year high of $21.68. The stock has a 50 day moving average of $12.08 and a 200-day moving average of $12.03.

Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, beating 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 business had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. During the same period in the previous year, the business posted $0.75 EPS. The company’s quarterly revenue was down 47.7% on a year-over-year basis. Equities analysts predict that Rowan Companies PLC will post ($0.93) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This news story was published by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.watchlistnews.com/rowan-companies-plc-rdc-stock-rating-reaffirmed-by-fbr-co/1644735.html.

Several hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC raised its position 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 buying an additional 55 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Rowan Companies PLC by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,403 shares of the oil and gas company’s stock worth $188,000 after buying an additional 71 shares in the last quarter. Comerica Bank raised its position in shares of Rowan Companies PLC by 0.3% during the 2nd quarter. Comerica Bank now owns 104,828 shares of the oil and gas company’s stock worth $1,182,000 after buying an additional 267 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Rowan Companies PLC by 1.7% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 23,432 shares of the oil and gas company’s stock worth $240,000 after buying an additional 400 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Rowan Companies PLC by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 162,562 shares of the oil and gas company’s stock worth $1,665,000 after buying an additional 546 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.

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

Receive News & Ratings for Rowan Companies PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.