Shares of Rowan Cos. (NYSE:RDC) have received an average recommendation of “Hold” from the thirty-five ratings firms that are covering the stock. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.25.
Several research analysts recently commented on the company. Societe Generale lowered Rowan Cos. from a “hold” rating to a “sell” rating and dropped their price target for the stock from $16.00 to $11.00 in a research report on Monday, October 3rd. Seaport Global Securities lowered Rowan Cos. from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Friday, October 7th. Citigroup Inc. lifted their price target on Rowan Cos. from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 10th. Jefferies Group reiterated a “buy” rating and issued a $18.00 price target (down previously from $21.00) on shares of Rowan Cos. in a research report on Thursday, August 4th. Finally, Deutsche Bank AG lifted their price target on Rowan Cos. from $16.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, August 3rd.
Rowan Cos. (NYSE:RDC) traded down 0.1061% on Monday, hitting $16.4825. The company’s stock had a trading volume of 1,665,173 shares. The firm has a 50 day moving average of $14.60 and a 200 day moving average of $15.42. Rowan Cos. has a 12 month low of $10.67 and a 12 month high of $20.88. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 4.4403 and a beta of 1.58.
Rowan Cos. (NYSE:RDC) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.32. The company earned $379.40 million during the quarter, compared to analyst estimates of $362.38 million. Rowan Cos. had a return on equity of 7.52% and a net margin of 23.15%. The firm’s revenue was down 30.4% on a year-over-year basis. During the same quarter last year, the business posted $0.89 earnings per share. Equities research analysts forecast that Rowan Cos. will post $1.95 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of RDC. First Trust Advisors LP raised its stake in Rowan Cos. by 533.1% in the second quarter. First Trust Advisors LP now owns 2,620,005 shares of the company’s stock valued at $46,269,000 after buying an additional 2,206,144 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Rowan Cos. by 182.8% in the second quarter. Acadian Asset Management LLC now owns 3,211,858 shares of the company’s stock worth $56,718,000 after buying an additional 2,075,973 shares during the period. Vanguard Group Inc. increased its position in shares of Rowan Cos. by 17.4% in the second quarter. Vanguard Group Inc. now owns 13,651,405 shares of the company’s stock worth $241,084,000 after buying an additional 2,020,982 shares during the period. Emerald Acquisition Ltd. purchased a new position in shares of Rowan Cos. during the second quarter worth $22,646,000. Finally, HBK Investments L P purchased a new position in shares of Rowan Cos. during the third quarter worth $17,191,000.