Price Don’t Lie: A Reversal for Rowan Companies PLC Is Not Near. The Stock Rises Again

Price Don't Lie: A Reversal for Rowan Companies PLC Is Not Near. The Stock Rises Again

The stock of Rowan Companies PLC (NYSE:RDC) is a huge mover today! About 2.05 million shares traded hands. Rowan Companies PLC (NYSE:RDC) has declined 16.80% since April 27, 2016 and is downtrending. It has underperformed by 22.03% the S&P500.
The move comes after 6 months positive chart setup for the $2.13 billion company. It was reported on Nov, 30 by Barchart.com. We have $19.15 PT which if reached, will make NYSE:RDC worth $170.40 million more.

Analysts await Rowan Companies PLC (NYSE:RDC) to report earnings on February, 24. They expect $-0.08 earnings per share, down 108.42% or $1.03 from last year’s $0.95 per share. After $0.30 actual earnings per share reported by Rowan Companies PLC for the previous quarter, Wall Street now forecasts -126.67% negative EPS growth.

Rowan Companies PLC (NYSE:RDC) Ratings Coverage

Out of 23 analysts covering Rowan Companies Inc. (NYSE:RDC), 7 rate it a “Buy”, 3 “Sell”, while 13 “Hold”. This means 30% are positive. Rowan Companies Inc. has been the topic of 54 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Societe Generale downgraded the shares of RDC in a report on Monday, October 3 to “Sell” rating. Credit Suisse downgraded the shares of RDC in a report on Friday, September 23 to “Neutral” rating. The rating was maintained by Citigroup with “Neutral” on Thursday, August 25. On Monday, June 13 the stock rating was maintained by Bank of America with “Underperform”. Jefferies maintained the shares of RDC in a report on Wednesday, September 28 with “Buy” rating. Cowen & Co maintained Rowan Companies PLC (NYSE:RDC) rating on Thursday, August 6. Cowen & Co has “Market Perform” rating and $18 price target. The stock of Rowan Companies PLC (NYSE:RDC) earned “Market Perform” rating by Raymond James on Tuesday, July 26. Seaport Global upgraded the stock to “Buy” rating in Monday, March 14 report. The stock of Rowan Companies PLC (NYSE:RDC) earned “Reduce” rating by Fearnley on Wednesday, March 9. The rating was maintained by Jefferies on Thursday, November 19 with “Buy”.

According to Zacks Investment Research, “Rowan Companies plc provides international and domestic offshore contract drilling services. The Company’s primary focus is on high-specification and premium jack-up rigs, used for exploratory and development drilling. It conducts offshore drilling operations particularly in the North Sea, Middle East, Southeast Asia and U.S. Gulf of Mexico. Rowan Companies plc, formerly known as Rowan Companies, Inc., is headquartered in Houston, Texas.”

Insitutional Activity: The institutional sentiment decreased to 0.93 in 2016 Q2. Its down 0.32, from 1.25 in 2016Q1. The ratio dived, as 39 funds sold all Rowan Companies PLC shares owned while 64 reduced positions. 30 funds bought stakes while 99 increased positions. They now own 136.86 million shares or 1.97% less from 139.60 million shares in 2016Q1.
Grp One Trading Ltd Partnership has invested 0% of its portfolio in Rowan Companies PLC (NYSE:RDC). Dimensional Fund Advisors L P owns 10.63M shares or 0.11% of their US portfolio. Aqr Capital holds 0.13% of its portfolio in Rowan Companies PLC (NYSE:RDC) for 4.03M shares. Barclays Public Ltd Co accumulated 0% or 199,934 shares. Omers Administration last reported 63,200 shares in the company. Thrivent Fincl For Lutherans owns 1.14 million shares or 0.1% of their US portfolio. Jane Street Grp Incorporated Limited Company has 0% invested in the company for 38,342 shares. Guggenheim Limited Com holds 0.04% of its portfolio in Rowan Companies PLC (NYSE:RDC) for 711,459 shares. Citadel Lc has 16,509 shares for 0% of their US portfolio. Columbia L L C Invest Mgmt accumulated 45,267 shares or 0.06% of the stock. Parametric Portfolio Assocs Lc has 0% invested in the company for 143,008 shares. Kcg Incorporated accumulated 0.02% or 52,839 shares. Newgate Mgmt Limited Liability Co has 0.19% invested in the company for 13,273 shares. Commonwealth Of Pennsylvania Public School Empls Retrmt accumulated 24,149 shares or 0.01% of the stock. Moreover, Canada Pension Plan Inv Board has 0.03% invested in Rowan Companies PLC (NYSE:RDC) for 429,262 shares.

Another recent and important Rowan Companies PLC (NYSE:RDC) news was published by Businessinsider.com which published an article titled: “BRIEF-Rowan Companies Plc received notice of early termination from Repsol E&P …” on November 15, 2016.

RDC Company Profile

Rowan Companies plc, incorporated on October 11, 2011, is a well-known provider of offshore contract drilling services to the international gas and oil industry, with a focus on high-specification and premium jack-up rigs and ultra-deepwater drillships. The Firm operates through two divisions: deepwater and jack-ups. The Company’s deepwater segment consists of drillship operations. The Company’s fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships. The Company’s fleet operates across the world, including the United States Gulf of Mexico, the United Kingdom and Norwegian sectors of the North Sea, the Middle East and Trinidad.

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