Macquarie Raises Rowan Companies to Outperform (RDC)

By admin | 6 years ago

Rowan Companies (NYSE: RDC) was upgraded by Macquarie from a “neutral” rating to an “outperform” rating in a research note issued on Wednesday.

A number of other analysts have also recently weighed in on RDC. Analysts at Deutsche Bank (NYSE: DB) reiterated a “buy” rating on shares of Rowan Companies in a research note to investors on Monday. They now have a $42.00 price target on the stock. Separately, analysts at FBR Capital (NASDAQ: FBCM) raised their price target on shares of Rowan Companies from $50.00 to $52.00 in a research note to investors on Wednesday, April 11st. They now have an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase (NYSE: JPM) downgraded shares of Rowan Companies from an “overweight” rating to a “neutral” rating in a research note to investors on Monday, March 19th.

Rowan Companies traded down 0.07% on Wednesday, hitting $30.42. Rowan Companies has a 1-year low of $28.13 and a 1-year high of $40.76. The company has a market cap of $3.778 billion and a price-to-earnings ratio of 5.07.

Rowan Companies last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.07. Rowan Companies’s revenue was up 61.9% compared to the same quarter last year. On average, analysts predict that Rowan Companies will post $0.78 earnings per share next quarter.

Rowan Companies, Inc. (Rowan) is a provider of international and domestic contract drilling services.

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