Should Investors Be Buying Rowan Cos (RDC) Stock Following Today’s Citigroup Upgrade?

September 8, 2018 - By Jack Shaw

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 is positive, 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.

New York State Teachers Retirement System has 0.01% invested in Rowan Companies plc (NYSE:RDC). Amp Cap Invsts reported 53,000 shares or 0% of all its holdings. Liberty Mutual Asset Mgmt owns 22,377 shares. Systematic Fincl Mgmt Lp has invested 0.04% of its portfolio in Rowan Companies plc (NYSE:RDC). Alliancebernstein Limited Partnership owns 0% invested in Rowan Companies plc (NYSE:RDC) for 164,274 shares. Thrivent Financial For Lutherans owns 216,308 shares. Virtu Financial Limited Liability Corporation holds 0.02% in Rowan Companies plc (NYSE:RDC) or 31,918 shares. Magnetar Limited Liability Co owns 50,584 shares. Prentiss Smith & has invested 0% in Rowan Companies plc (NYSE:RDC). Glenmede Na reported 542 shares or 0% of all its holdings. 7,622 were reported by Zurcher Kantonalbank (Zurich Cantonalbank). 3.94 million are owned by Millennium Management Ltd Liability Com. Vertex One Asset Mngmt reported 0.7% in Rowan Companies plc (NYSE:RDC). Citadel Advsr Llc invested in 0.01% or 1.83 million shares. Lord Abbett & holds 605,800 shares.

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

Rowan Cos (RDC) Stock Upgrade

Rowan Cos (RDC)‘s stock was raised to a solid “Buy” by stock analysts at Citigroup. RDC’s past “Neutral” rating is has been discontinued by the brokerage firm.

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 (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 EPS, down 562.50 % or $0.90 from last year’s $-0.16 per share. After $-0.60 actual EPS 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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