Brokerage Firm Rating Update on Rowan Companies plc (RDC)

Rowan Companies plc (RDC) : 19 analysts are covering Rowan Companies plc (RDC) and their average rating on the stock is 2.68, which is read as a Hold. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. 2 more analyst has given the stock a Sell recommendation. A total of 13 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Rowan Companies plc (RDC) has been rated by 15 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $25 and the lowest price target forecast is $12. The average forecast of all the analysts is $16.89 and the expected standard deviation is $3.52.


Company shares have received an average consensus rating of Hold for the current week Also, Citigroup maintains its rating on Rowan Companies plc (NYSE:RDC). The global brokerage major lowers the current price target from $20 per share to $15 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. The rating by the firm was issued on August 25, 2016.

Rowan Companies plc (NYSE:RDC): The stock opened at $13.15 and touched an intraday high of $13.465 on Wednesday. During the day, the stock corrected to an intraday low of $12.73, however, the bulls stepped in and pushed the price higher to close in the green at $13.12 with a gain of 0.31% for the day. The total traded volume for the day was 6,421,833. The stock had closed at $13.08 in the previous trading session.

Rowan Companies plc (Rowan) is a provider of international and domestic offshore oil and gas contract drilling services. Its operation broadly consists of Drilling Fleet and Contracts. It has a fleet of 30 self-elevating mobile offshore jack-up drilling units and four ultra-deepwater drillships. It conducts offshore drilling operations in the United States Gulf of Mexico (US GOM), the United Kingdom (UK) and Norwegian sectors of the North Sea, the Middle East, West and North Africa, Southeast Asia and Trinidad. The Companys jack-ups are capable of drilling wells to depths ranging from 25,000 to 40,000 feet and in water depths ranging from 250 to 550 feet. Its ultra-deepwater drillships are capable of drilling wells to depths of 40,000 feet and in water depths of 12,000 feet. The Companys drilling contracts provide for a fixed amount of compensation per day, and are either well-to-well, multiple-well or fixed-term generally ranging from one month to several years.

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