Today The Cascade Investment Advisors Inc. Takes Position in Rowan Companies PLC (RDC)

Today The Cascade Investment Advisors Inc. Takes Position in Rowan Companies PLC (RDC)

Cascade Investment Advisors Inc. purchased a new stake in Rowan Companies PLC (NYSE:RDC) during the fourth quarter, Holdings Channel reports. The firm purchased 24,450 shares of the company’s stock, valued at approximately $462,000.

A number of other large investors have also recently modified their holdings of the company. Globeflex Capital L P purchased a new stake in shares of Rowan Companies PLC during the second quarter valued at about $1,698,000. Canada Pension Plan Investment Board raised its stake in shares of Rowan Companies PLC by 48.6% in the third quarter. Canada Pension Plan Investment Board now owns 637,762 shares of the company’s stock valued at $9,668,000 after buying an additional 208,500 shares during the period. Nikko Asset Management Americas Inc. raised its stake in shares of Rowan Companies PLC by 13.7% in the third quarter. Nikko Asset Management Americas Inc. now owns 333,000 shares of the company’s stock valued at $5,048,000 after buying an additional 40,000 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Rowan Companies PLC by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 1,973,947 shares of the company’s stock valued at $29,926,000 after buying an additional 51,988 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in shares of Rowan Companies PLC by 3.1% in the third quarter. BlackRock Investment Management LLC now owns 578,438 shares of the company’s stock valued at $8,769,000 after buying an additional 17,595 shares during the period.

Rowan Companies PLC (NYSE:RDC) traded up 3.09% on Wednesday, hitting $20.00. The company’s stock had a trading volume of 899,993 shares. The firm has a 50 day moving average of $19.59 and a 200 day moving average of $15.83. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 5.39 and a beta of 1.73. Rowan Companies PLC has a 12 month low of $10.67 and a 12 month high of $21.68.

Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.32. Rowan Companies PLC had a net margin of 23.15% and a return on equity of 7.52%. The firm earned $379.40 million during the quarter, compared to the consensus estimate of $362.38 million. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was down 30.4% on a year-over-year basis. Equities research analysts forecast that Rowan Companies PLC will post $1.97 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on RDC shares. Zephirin Group reaffirmed a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Rowan Companies PLC in a research note on Tuesday, December 27th. FBR & Co dropped their price target on Rowan Companies PLC from $25.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Seaport Global Securities lowered Rowan Companies PLC from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Friday, October 7th. Zacks Investment Research lowered Rowan Companies PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, January 3rd. Finally, Nomura reaffirmed a “hold” rating and set a $14.00 price target on shares of Rowan Companies PLC in a research note on Monday, November 7th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. Rowan Companies PLC presently has a consensus rating of “Hold” and a consensus target price of $17.51.

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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.

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