Wall Street brokerages expect Rowan Companies PLC (NYSE:RDC) to report ($0.49) earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Rowan Companies PLC’s earnings, with estimates ranging from ($0.81) to ($0.37). Rowan Companies PLC reported earnings per share of $0.30 during the same quarter last year, which would indicate a negative year over year growth rate of 263.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Rowan Companies PLC will report full year earnings of ($1.05) per share for the current financial year, with EPS estimates ranging from ($1.75) to ($0.65). For the next year, analysts anticipate that the business will report earnings of ($2.49) per share, with EPS estimates ranging from ($3.20) to ($2.10). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Rowan Companies PLC.
Rowan Companies PLC (NYSE:RDC) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.05. The firm had revenue of $320.20 million during the quarter, compared to the consensus estimate of $296.87 million. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company’s quarterly revenue was down 47.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share.
Several equities analysts recently issued reports on RDC shares. BidaskClub raised Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Bank of America Corporation cut Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. ValuEngine cut Rowan Companies PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Clarkson Capital raised Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday, May 30th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Rowan Companies PLC in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $16.40.
Shares of Rowan Companies PLC (RDC) traded up 4.72% during mid-day trading on Friday, hitting $10.21. The stock had a trading volume of 2,964,270 shares. The firm’s market cap is $1.29 billion. The stock’s 50-day moving average price is $10.48 and its 200-day moving average price is $13.07. Rowan Companies PLC has a 52-week low of $9.02 and a 52-week high of $21.68.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Rowan Companies PLC by 4,558.9% in the first quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock worth $171,191,000 after buying an additional 10,752,038 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Rowan Companies PLC during the first quarter worth about $31,069,000. Marshall Wace North America L.P. acquired a new stake in shares of Rowan Companies PLC during the first quarter worth about $31,069,000. Northern Trust Corp raised its stake in shares of Rowan Companies PLC by 145.7% in the second quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock worth $32,274,000 after buying an additional 1,869,194 shares during the last quarter. Finally, Odey Asset Management Group Ltd acquired a new stake in shares of Rowan Companies PLC during the second quarter worth about $16,866,000.
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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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