ValuEngine upgraded shares of Rowan Companies (NYSE:RDC) from a sell rating to a hold rating in a research note published on Friday morning.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Rowan Companies from a buy rating to a hold rating in a research report on Friday, November 17th. UBS boosted their target price on Rowan Companies from $15.00 to $18.00 and gave the stock a buy rating in a research report on Monday, November 6th. B. Riley restated a buy rating on shares of Rowan Companies in a research report on Wednesday, November 1st. Jefferies Group restated a hold rating and set a $15.00 target price on shares of Rowan Companies in a research report on Friday, November 3rd. Finally, Piper Jaffray Companies restated a buy rating and set a $15.00 target price on shares of Rowan Companies in a research report on Sunday, October 22nd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $16.52.

Rowan Companies (NYSE:RDC) traded up $0.25 during trading on Friday, reaching $15.01. The company’s stock had a trading volume of 840,431 shares, compared to its average volume of 3,410,004. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies has a one year low of $9.02 and a one year high of $21.68.

Rowan Companies (NYSE:RDC) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.26. The company had revenue of $291.60 million for the quarter, compared to analyst estimates of $281.51 million. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The business’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. research analysts anticipate that Rowan Companies will post -0.72 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDC. Morgan Stanley increased its holdings in Rowan Companies by 40.6% in the first quarter. Morgan Stanley now owns 354,777 shares of the oil and gas company’s stock valued at $5,528,000 after purchasing an additional 102,393 shares during the last quarter. Bank of America Corp DE increased its holdings in Rowan Companies by 129.1% in the first quarter. Bank of America Corp DE now owns 197,144 shares of the oil and gas company’s stock valued at $3,071,000 after purchasing an additional 875,233 shares during the last quarter. Capstone Asset Management Co. increased its holdings in Rowan Companies by 3.8% in the second quarter. Capstone Asset Management Co. now owns 21,078 shares of the oil and gas company’s stock valued at $216,000 after purchasing an additional 780 shares during the last quarter. Bank of Montreal Can increased its holdings in Rowan Companies by 125.7% in the second quarter. Bank of Montreal Can now owns 220,066 shares of the oil and gas company’s stock valued at $2,254,000 after purchasing an additional 122,546 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Rowan Companies by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 45,948 shares of the oil and gas company’s stock valued at $471,000 after purchasing an additional 2,000 shares during the last quarter.

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Rowan Companies Company Profile

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.

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Analyst Recommendations for Rowan Companies (NYSE:RDC)

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