Equities analysts forecast that Rowan Companies PLC (NYSE:RDC) will post sales of $222.28 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Rowan Companies’ earnings. The highest sales estimate is $256.00 million and the lowest is $198.79 million. Rowan Companies reported sales of $374.30 million during the same quarter last year, which indicates a negative year over year growth rate of 40.6%. The firm is expected to issue its next earnings report on Tuesday, May 1st.
On average, analysts expect that Rowan Companies will report full year sales of $222.28 million for the current year, with estimates ranging from $734.00 million to $911.00 million. For the next financial year, analysts expect that the firm will report sales of $748.71 million per share, with estimates ranging from $607.00 million to $912.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Rowan Companies.
Rowan Companies (NYSE:RDC) last posted its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). Rowan Companies had a net margin of 5.67% and a negative return on equity of 1.52%. The business had revenue of $296.70 million during the quarter, compared to the consensus estimate of $270.28 million. During the same quarter last year, the company posted $0.08 EPS. The firm’s revenue was down 15.7% on a year-over-year basis.
Shares of Rowan Companies (NYSE:RDC) opened at $11.63 on Tuesday. Rowan Companies has a 12 month low of $9.02 and a 12 month high of $17.33. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1,563.19, a price-to-earnings ratio of 20.77 and a beta of 1.81.
In other news, CFO Stephen M. Butz sold 3,671 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $12.99, for a total transaction of $47,686.29. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.77% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RDC. Crossmark Global Holdings Inc. acquired a new stake in shares of Rowan Companies during the 3rd quarter worth $276,000. New York State Common Retirement Fund grew its holdings in shares of Rowan Companies by 17.8% during the 3rd quarter. New York State Common Retirement Fund now owns 1,005,300 shares of the oil and gas company’s stock worth $12,918,000 after purchasing an additional 151,958 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Rowan Companies by 7.8% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 476,372 shares of the oil and gas company’s stock worth $6,121,000 after purchasing an additional 34,385 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Rowan Companies by 50.8% during the 3rd quarter. SG Americas Securities LLC now owns 36,181 shares of the oil and gas company’s stock worth $465,000 after purchasing an additional 12,193 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Rowan Companies by 8.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 939,383 shares of the oil and gas company’s stock worth $12,071,000 after purchasing an additional 74,254 shares in the last quarter.
ILLEGAL ACTIVITY WARNING: “$222.28 Million in Sales Expected for Rowan Companies PLC (RDC) This Quarter” was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://stocknewstimes.com/2018/03/20/222-28-million-in-sales-expected-for-rowan-companies-plc-rdc-this-quarter.html.
About Rowan Companies
Rowan Companies plc is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rowan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies and related companies with MarketBeat.com's FREE daily email newsletter.