Analyst Rating Update on Rowan Companies plc (RDC)

Rowan Companies plc (RDC) : 4 brokerage houses believe that Rowan Companies plc (RDC) is a Strong Buy at current levels. 13 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 2.68.

Rowan Companies plc (RDC) : Currently there are 15 street experts covering Rowan Companies plc (RDC) stock. The most bullish and bearish price target for the stock is $25 and $12 respectively for the short term. The average price target of all the analysts comes to $18.29. The estimated standard deviation from the target is $3.51.

Company shares have received an average consensus rating of Hold for the current week Also, Raymond James downgrades 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 Market Perform by the stock experts at the ratings house. Earlier, the shares had a rating of Outperform. The rating by the firm was issued on July 26, 2016.


Rowan Companies plc (NYSE:RDC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.98 and $13.73 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.53. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.25, notching a gain of 1.79% for the day. The total traded volume was 4,247,707 . The stock had closed at $14.00 on the previous day.

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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