Citigroup Issues an Upgrade on Rowan Cos (NYSE:RDC) Shares. What’s Next?

September 8, 2018 - By Lisa Delgado

Rowan Companies plc (NYSE:RDC) Logo

Investors sentiment increased to 1.18 in 2018 Q1. Its up 0.23, from 0.95 in 2017Q4. It increased, as 22 investors sold Rowan Companies plc shares while 57 reduced holdings. 25 funds opened positions while 68 raised stakes. 123.12 million shares or 3.29% less from 127.30 million shares in 2017Q4 were reported.

Morgan Stanley has invested 0% in Rowan Companies plc (NYSE:RDC). Dupont Management stated it has 0.08% in Rowan Companies plc (NYSE:RDC). Mason Street Advsr Limited Co invested 0.02% in Rowan Companies plc (NYSE:RDC). 46,654 are owned by Wellington Mgmt Gp Llp. Vident Invest Advisory Limited Company stated it has 0.14% in Rowan Companies plc (NYSE:RDC). Virginia Retirement Et Al has 0.01% invested in Rowan Companies plc (NYSE:RDC). California State Teachers Retirement Systems stated it has 177,731 shares or 0% of all its holdings. Bluecrest Capital Limited reported 0% of its portfolio in Rowan Companies plc (NYSE:RDC). Hotchkis And Wiley Cap Management Limited Liability Company holds 0% of its portfolio in Rowan Companies plc (NYSE:RDC) for 26,609 shares. Contrarius Management Limited reported 0.78% in Rowan Companies plc (NYSE:RDC). Ohio-based Fifth Third Natl Bank has invested 0% in Rowan Companies plc (NYSE:RDC). Tower Research Cap Ltd Limited Liability Company (Trc) invested in 0.01% or 5,806 shares. State Teachers Retirement Systems accumulated 0.01% or 247,020 shares. Walleye Trading Lc invested 0% of its portfolio in Rowan Companies plc (NYSE:RDC). Castleark Mngmt Ltd Liability Com stated it has 0.01% of its portfolio in Rowan Companies plc (NYSE:RDC).

Since June 20, 2018, it had 0 insider purchases, and 1 sale for $88,020 activity.

Rowan Cos (NYSE:RDC) Stock Upgrade

Citigroup gave Rowan Cos (NYSE:RDC) shares a new “Buy” rating in an analyst note published on 7 September. The boost from the previous “Neutral” rating is certainly an interesting one.

Rowan Companies plc (NYSE:RDC) Ratings Coverage

Among 10 analysts covering Rowan Companies (NYSE:RDC), 3 have Buy rating, 1 Sell and 6 Hold. Therefore 30% are positive. Rowan Companies has $20 highest and $11 lowest target. $14.57’s average target is -1.95% below currents $14.86 stock price. Rowan Companies had 11 analyst reports since March 15, 2018 according to SRatingsIntel. The firm has “Underweight” rating by Barclays Capital given on Thursday, August 9. The stock has “Buy” rating by FBR Capital on Monday, June 18. As per Thursday, March 15, the company rating was maintained by Cowen & Co. As per Thursday, May 10, the company rating was upgraded by Bank of America. The stock has “Buy” rating by Societe Generale on Friday, August 3. The rating was maintained by Credit Suisse with “Neutral” on Friday, May 4. Piper Jaffray maintained the stock with “Hold” rating in Friday, March 16 report. The company was upgraded on Thursday, May 24 by Wells Fargo. Susquehanna maintained the shares of RDC in report on Friday, April 13 with “Hold” rating. On Thursday, June 21 the stock rating was maintained by Citigroup with “Neutral”.

The stock increased 4.72% or $0.67 during the last trading session, reaching $14.86. About 3.22M shares traded or 32.40% up from the average. Rowan Companies plc (NYSE:RDC) has risen 21.79% since September 8, 2017 and is uptrending. It has outperformed by 9.22% the S&P500.

Analysts await Rowan Companies plc (NYSE:RDC) to report earnings on November, 7. They expect $-1.06 earnings per share, down 562.50 % or $0.90 from last year’s $-0.16 per share. After $-0.60 actual earnings per share reported by Rowan Companies plc for the previous quarter, Wall Street now forecasts 76.67 % negative EPS growth.

Rowan Companies plc provides offshore gas and oil contract drilling services. The company has market cap of $1.89 billion. As of February 24, 2017, it operated a fleet of 29 mobile offshore drilling units, including 25 jack-up rigs and 4 ultra-deepwater drillships. It currently has negative earnings. The firm operates in the United States Gulf of Mexico, the United Kingdom, and Norwegian sectors of the North Sea, the Middle East, and Trinidad.

Another recent and important Rowan Companies plc (NYSE:RDC) news was published by Seekingalpha.com which published an article titled: “Rowan: Well Positioned For Industry Recovery And Growth” on September 05, 2018.

Rowan Companies plc (NYSE:RDC) Ratings Chart

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