Zacks: Analysts Expect Rowan Companies PLC (RDC) Will Announce Quarterly Sales of $269.69 Million
Wall Street brokerages expect Rowan Companies PLC (NYSE:RDC) to post sales of $269.69 million for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Rowan Companies’ earnings, with the lowest sales estimate coming in at $254.00 million and the highest estimate coming in at $297.77 million. Rowan Companies reported sales of $351.80 million during the same quarter last year, which indicates a negative year-over-year growth rate of 23.3%. The company is scheduled to report its next quarterly earnings report on Friday, February 23rd.
On average, analysts expect that Rowan Companies will report full-year sales of $269.69 million for the current financial year, with estimates ranging from $1.21 billion to $1.28 billion. For the next fiscal year, analysts forecast that the company will post sales of $879.05 million per share, with estimates ranging from $754.00 million to $972.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Rowan Companies.
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 firm had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $281.51 million. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS.
Several analysts have commented on RDC shares. ValuEngine upgraded Rowan Companies from a “sell” rating to a “hold” rating in a report on Friday, September 1st. UBS Group raised 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 note on Monday, September 25th. Royal Bank of Canada set a $14.00 price objective on Rowan Companies and gave the company a “hold” rating in a research note on Sunday, October 8th. Deutsche Bank assumed coverage on Rowan Companies in a research note on Tuesday, October 10th. They issued a “hold” rating and a $15.00 price objective on the stock. Finally, Zacks Investment Research raised Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $16.52.
Rowan Companies (NYSE RDC) traded up $0.63 on Tuesday, reaching $15.72. The company’s stock had a trading volume of 1,536,491 shares, compared to its average volume of 3,337,579. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1,905.16, a PE ratio of -30.23 and a beta of 1.90. Rowan Companies has a 52 week low of $9.02 and a 52 week high of $20.50.
Several hedge funds and other institutional investors have recently modified their holdings of RDC. FMR LLC grew its stake in Rowan Companies by 140.0% during the 2nd quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock worth $16,800,000 after buying an additional 957,047 shares during the last quarter. Rhumbline Advisers grew its stake in Rowan Companies by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 285,312 shares of the oil and gas company’s stock worth $2,922,000 after buying an additional 60,193 shares during the last quarter. Sterling Capital Management LLC bought a new position in Rowan Companies during the 2nd quarter worth $922,000. Robeco Institutional Asset Management B.V. grew its stake in Rowan Companies by 21.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,051,500 shares of the oil and gas company’s stock worth $10,768,000 after buying an additional 186,754 shares during the last quarter. Finally, Cipher Capital LP grew its stake in Rowan Companies by 354.2% during the 2nd quarter. Cipher Capital LP now owns 135,249 shares of the oil and gas company’s stock worth $1,385,000 after buying an additional 105,474 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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