BMO Capital Reaffirms Their Hold Rating on Rowan Companies


BMO Capital analyst Daniel Boyd reiterated a Hold rating on Rowan Companies (NYSE: RDC) yesterday and set a price target of $15. The company’s shares closed yesterday at $15.87.

According to TipRanks.com, Boyd ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.8% and a 36.6% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as Oil States International, Schlumberger Limited, and Helmerich & Payne.

Currently, the analyst consensus on Rowan Companies is a Moderate Buy with an average price target of $16.80.

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Based on Rowan Companies’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $112 million. In comparison, last year the company had a GAAP net loss of $28.7 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.

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Rowan Cos. Plc provides offshore contract drilling services to the international oil and gas industry. It focuses on high specification and premium jack-up rigs, which are used for exploratory and development drilling operations. The company operates through two segments: Deepwater, which consists of drillship operations, and Jack-Ups.

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