Rowan Companies plc (RDC) : Analyst Rating Update

Rowan Companies plc (RDC) : 4 brokerage houses believe that Rowan Companies plc (RDC) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 12 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Rowan Companies plc (RDC). Zacks Investment Research suggests a Hold with a rank of 3. 2 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 19 Wall Street Analysts endorse the stock as a Hold with a rating of 2.63.

Rowan Companies plc (RDC) : The highest short term price target forecast on Rowan Companies plc (RDC) is $25 and the lowest target price is $12. A total of 15 equity analysts are currently covering the company. The average price of all the analysts is $18.07 with a standard deviation of $3.56.

Rowan Companies plc (NYSE:RDC): The stock opened at $17.35 on Wednesday but the bulls could not build on the opening and the stock topped out at $17.47 for the day. The stock traded down to $16.73 during the day, due to lack of any buying support eventually closed down at $17.20 with a loss of -2.05% for the day. The stock had closed at $17.56 on the previous day. The total traded volume was 4,863,899 shares.

Also, Bank of America reinstates its view on Rowan Companies plc (NYSE:RDC) according to the research report released by the firm to its investors. The shares have now been rated Underperform by the stock experts at the ratings house. The rating by the firm was issued on June 13, 2016. The company shares have dropped -11.58% from its 1 Year high price. On Nov 3, 2015, the shares registered one year high at $21.83 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $17.68 and the 200 Day Moving Average price is recorded at $15.76.

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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