Wall Street brokerages predict that Rowan Companies PLC (NYSE:RDC) will post $165.54 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Rowan Companies’ earnings. The lowest sales estimate is $155.00 million and the highest is $179.70 million. Rowan Companies posted sales of $296.70 million in the same quarter last year, which would indicate a negative year over year growth rate of 44.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Rowan Companies will report full-year sales of $796.48 million for the current year, with estimates ranging from $777.64 million to $825.10 million. For the next year, analysts forecast that the company will post sales of $691.66 million, with estimates ranging from $619.12 million to $789.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Rowan Companies.
Rowan Companies (NYSE:RDC) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.02. Rowan Companies had a negative return on equity of 7.11% and a negative net margin of 23.47%. The firm had revenue of $192.90 million during the quarter, compared to analysts’ expectations of $179.39 million. During the same quarter in the prior year, the firm posted ($0.16) EPS. The company’s revenue for the quarter was down 33.8% on a year-over-year basis.
Several large investors have recently bought and sold shares of RDC. BlackRock Inc. raised its stake in shares of Rowan Companies by 8.4% in the 2nd quarter. BlackRock Inc. now owns 14,089,013 shares of the oil and gas company’s stock valued at $228,524,000 after purchasing an additional 1,093,323 shares during the period. Legal & General Group Plc grew its holdings in Rowan Companies by 2.0% during the second quarter. Legal & General Group Plc now owns 200,963 shares of the oil and gas company’s stock worth $3,259,000 after purchasing an additional 3,867 shares during the period. FMR LLC grew its holdings in Rowan Companies by 4.5% during the second quarter. FMR LLC now owns 2,209,918 shares of the oil and gas company’s stock worth $35,845,000 after purchasing an additional 95,156 shares during the period. Renaissance Technologies LLC bought a new position in Rowan Companies during the second quarter worth about $9,743,000. Finally, Point72 Asset Management L.P. bought a new position in Rowan Companies during the second quarter worth about $10,730,000. Institutional investors and hedge funds own 99.06% of the company’s stock.
Shares of RDC opened at $11.39 on Monday. Rowan Companies has a 1 year low of $7.77 and a 1 year high of $20.87. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1.47 billion, a PE ratio of -17.80 and a beta of 2.22.
About Rowan Companies
Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.
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