Rowan Companies (NYSE:RDC) received a $14.00 target price from investment analysts at Cowen in a research note issued to investors on Thursday. The firm currently has a “hold” rating on the oil and gas company’s stock. Cowen’s price objective points to a potential downside of 18.46% from the company’s current price.

Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Rowan Companies from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. initiated coverage on shares of Rowan Companies in a research report on Thursday, October 19th. They issued a “buy” rating and a $16.80 price objective on the stock. Deutsche Bank initiated coverage on shares of Rowan Companies in a research report on Tuesday, October 10th. They issued a “hold” rating and a $15.00 price objective on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 price objective on shares of Rowan Companies in a research report on Sunday, October 22nd. Finally, UBS Group upgraded shares of Rowan Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $15.00 in a research report on Monday, September 25th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.54.

Shares of Rowan Companies (NYSE:RDC) opened at $17.17 on Thursday. The firm has a market cap of $2,170.00, a PE ratio of -33.67 and a beta of 1.89. Rowan Companies has a 52-week low of $9.02 and a 52-week high of $20.34. 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 issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.26. The firm had revenue of $291.60 million for the quarter, compared to the consensus estimate of $281.51 million. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. Rowan Companies’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the firm posted $0.30 EPS. equities analysts predict that Rowan Companies will post -0.61 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its position in shares of Rowan Companies by 53.6% during the 3rd quarter. GSA Capital Partners LLP now owns 30,484 shares of the oil and gas company’s stock worth $392,000 after buying an additional 10,635 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Rowan Companies by 98.6% during the 3rd quarter. California Public Employees Retirement System now owns 691,616 shares of the oil and gas company’s stock worth $8,887,000 after buying an additional 343,316 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Rowan Companies by 297.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 170,525 shares of the oil and gas company’s stock worth $2,191,000 after buying an additional 127,599 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Rowan Companies by 160.5% during the 3rd quarter. Wells Fargo & Company MN now owns 672,795 shares of the oil and gas company’s stock worth $8,646,000 after buying an additional 414,545 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Rowan Companies during the 3rd quarter worth about $1,448,000.

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-rdc-given-a-14-00-price-target-by-cowen-analysts/1805203.html.

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.

Analyst Recommendations for Rowan Companies (NYSE:RDC)

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