Rowan Companies plc Class A Ord (NYSE:RDC):
Rowan Provides Fleet Contract Status Update.
The company is so far trading down since yesterday’s close of $13.975.
It is currently trading at $13.49 which is a tad under the 50 day moving average of $14.07 and slightly below the 200 day moving average of $15.79. The 50 day moving average moved down $-0.58 and the 200 day average was down $-2.30.
The P/E ratio is currently 7.54 and the market cap is 1.69B. As of the latest earnings report the EPS was $1.79 and is estimated to be $1.71 for the current year with 125,420,000 shares outstanding. Analysts expect next quarter’s EPS will be $-0.06 with next year’s EPS projected to be $-0.67.
A few brokerages have weighed in on RDC of late. October 10 investment analysts at CItigroup made no change to the stock rating of “Neutral” but raised the price target to $16.00 from $15.00. On October 3, 2016 the stock rating was set at “Sell” according to a Societe Generale report a cut from the previous “Hold” rating.
On September 28 Jefferies held the stock rating at “Buy” but lowered the price expectation from $26.00 to $17.00. Equity analyst Credit Suisse both downgraded the stock and lowered the price target on September 23 changing the price target from $16.00 to $13.00 and cutting the rating from “Outperform” to “Neutral”.
On September 23 the company was downgraded to “Neutral” from “Outperform” with a current price target of $13.00 in a report issued by Credit Suisse. On September 19 the company was rated “Buy” in a report from Zephrin Group up from the previous “” rating.