Rowan Companies PLC (NYSE:RDC) – Stock analysts at Capital One Financial issued their FY2020 earnings per share estimates for shares of Rowan Companies in a research report issued to clients and investors on Wednesday, October 31st. Capital One Financial analyst L. Lemoine anticipates that the oil and gas company will earn ($2.75) per share for the year.
Rowan Companies (NYSE:RDC) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.02. The firm had revenue of $192.90 million during the quarter, compared to the consensus estimate of $179.39 million. Rowan Companies had a negative net margin of 23.47% and a negative return on equity of 7.11%. The company’s revenue was down 33.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) earnings per share.
RDC has been the subject of several other research reports. Tudor Pickering upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. BMO Capital Markets set a $15.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a research note on Wednesday, July 11th. Royal Bank of Canada upgraded shares of Rowan Companies from a “sector perform” rating to an “outperform” rating in a research note on Thursday, September 20th. B. Riley set a $20.00 target price on shares of Rowan Companies and gave the stock a “buy” rating in a research note on Friday, September 7th. Finally, BTIG Research began coverage on shares of Rowan Companies in a research note on Monday, September 17th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Rowan Companies presently has an average rating of “Hold” and a consensus price target of $15.46.
RDC opened at $16.73 on Monday. The stock has a market capitalization of $2.03 billion, a PE ratio of -26.14 and a beta of 1.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.97 and a quick ratio of 2.97. Rowan Companies has a twelve month low of $10.94 and a twelve month high of $20.87.
Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new position in shares of Rowan Companies in the second quarter valued at approximately $162,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Rowan Companies in the first quarter valued at approximately $191,000. GWM Advisors LLC bought a new position in shares of Rowan Companies in the second quarter valued at approximately $197,000. V Wealth Management LLC bought a new position in shares of Rowan Companies in the second quarter valued at approximately $220,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Rowan Companies in the third quarter valued at approximately $261,000. Institutional investors own 97.57% of the company’s stock.
Rowan Companies Company Profile
Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.
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