Jefferies Group Weighs in on Rowan Companies PLC’s Q4 2017 Earnings (NYSE:RDC)

Rowan Companies PLC (NYSE:RDC) – Investment analysts at Jefferies Group dropped their Q4 2017 earnings per share estimates for Rowan Companies PLC in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Jefferies Group analyst E. Royes now forecasts that the oil and gas company will post earnings per share of ($0.23) for the quarter, down from their prior forecast of ($0.17). Jefferies Group has a “Hold” rating and a $15.00 price objective on the stock. Jefferies Group also issued estimates for Rowan Companies PLC’s Q1 2018 earnings at ($0.35) EPS, Q2 2018 earnings at ($0.50) EPS, Q3 2018 earnings at ($0.63) EPS, Q4 2018 earnings at ($0.88) EPS, FY2018 earnings at ($2.35) EPS, FY2019 earnings at ($2.40) EPS and FY2020 earnings at ($1.05) EPS.

Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.26. The business had revenue of $291.60 million during the quarter, compared to analyst estimates of $281.51 million. Rowan Companies PLC 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share.

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Several other research analysts have also weighed in on RDC. ValuEngine lowered Rowan Companies PLC from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. BMO Capital Markets set a $12.00 price objective on Rowan Companies PLC and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Zacks Investment Research upgraded Rowan Companies PLC from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, November 16th. Nomura lowered their price objective on Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 3rd. Finally, UBS AG increased their price objective on Rowan Companies PLC from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $16.52.

Shares of Rowan Companies PLC (NYSE RDC) traded up $0.09 during trading on Monday, reaching $13.73. The company had a trading volume of 2,267,584 shares, compared to its average volume of 3,428,523. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $21.68. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47.

Several hedge funds have recently bought and sold shares of RDC. BlackRock Inc. raised its position in shares of Rowan Companies PLC by 30.3% during the 2nd quarter. BlackRock Inc. now owns 14,315,633 shares of the oil and gas company’s stock worth $146,590,000 after purchasing an additional 3,327,747 shares during the last quarter. State Street Corp raised its position in shares of Rowan Companies PLC by 24.1% during the 2nd quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock worth $52,005,000 after purchasing an additional 986,257 shares during the last quarter. Northern Trust Corp raised its position in shares of Rowan Companies PLC by 145.7% during the 2nd quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock worth $32,274,000 after purchasing an additional 1,869,194 shares during the last quarter. Key Group Holdings Cayman LTD. raised its position in shares of Rowan Companies PLC by 142.8% during the 2nd quarter. Key Group Holdings Cayman LTD. now owns 2,783,345 shares of the oil and gas company’s stock worth $28,501,000 after purchasing an additional 1,636,896 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its position in shares of Rowan Companies PLC by 3.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 2,089,050 shares of the oil and gas company’s stock worth $21,392,000 after purchasing an additional 74,220 shares during the last quarter.

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. 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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Earnings History and Estimates for Rowan Companies PLC (NYSE:RDC)

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