Rowan Companies PLC (RDC) Releases Earnings Results, Beats Expectations By $0.26 EPS

Rowan Companies PLC (RDC) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.98 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.26. Analysts had a consensus of $0.72. The company posted revenue of $500.20 million in the period, compared to analysts expectations of $489.40 million. The company’s revenue was down -8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

Many Wall Street Analysts have commented on Rowan Companies PLC. Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 20 from a previous price target of $15 .Rowan Companies PLC was Initiated by Nomura to “Neutral” on Apr 8, 2016. Company shares were Upgraded by Seaport Global Securities on Mar 14, 2016 to ” Buy”, Firm has raised the Price Target to $ 19 from a previous price target of $12 .

Rowan Companies PLC closed down -0.25 points or -1.33% at $18.56 with 33,71,629 shares getting traded on Monday. Post opening the session at $18.71, the shares hit an intraday low of $17.88 and an intraday high of $18.77 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 20, 2015, Tore I Sandvold (director) purchased 5,000 shares at $22.29 per share price.

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 Company’s jack-ups are capable of drilling wells to depths ranging from 25000 to 40000 feet and in water depths ranging from 250 to 550 feet. Its ultra-deepwater drillships are capable of drilling wells to depths of 40000 feet and in water depths of 12000 feet. The Company’s 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.

Rowan Companies PLC

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