Rowan Cos (RDC) is Downgraded by Credit Agricole to Underperform

Rowan Cos (RDC) is Downgraded by Credit Agricole to Underperform , according to the research report released to the investors. Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Rowan Companies plc (NYSE:RDC) ended Thursday session in red amid volatile trading. The shares closed down 0.06 points or 0.32% at $18.89 with 3,671,827 shares getting traded. Post opening the session at $18.89, the shares hit an intraday low of $18.515 and an intraday high of $19.07 and the price vacillated in this range throughout the day. The company has a market cap of $2,358 million and the number of outstanding shares has been calculated to be 124,813,549 shares. The 52-week high of Rowan Companies plc (NYSE:RDC) is $25.13 and the 52-week low is $14.63.

During the last several months other analysts have commented on the company rating. Equity Analysts at the Guggenheim Securities upgrades the rating on Rowan Companies plc (NYSE:RDC). The brokerage firm has issued a Buy rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on November 30, 2015.

Rowan Companies plc (NYSE:RDC) has received a short term rating of buy from research analysts at Zacks with a rank of 2. The company has been rated an average of 2.41 by 19 Wall Street Analysts. 5 analysts have added the shares in their list of strong buys. 2 stock experts have also rated a buy. 11 broker firms have advised hold. A sell call was initiated by 1 analysts.

Rowan Companies plc (NYSE:RDC): The mean estimate for the short term price target for Rowan Companies plc (NYSE:RDC) stands at $22 according to 17 Analysts. The higher price target estimate for the stock has been calculated at $30 while the lower price target estimate is at $18.

Shares of Rowan Companies plc appreciated by 3.56% during the last five trading days but lost 5.74% on a 4-week basis. Rowan Companies plc is up 11.06% in the last 3-month period. Year-to-Date the stock performance stands at -17.39%.”

Rowan Companies plc, formerly Rowan Companies, Inc., is a provider of international and domestic offshore contract drilling services. The Company provides offshore contract drilling services utilizing a fleet of 31 self-elevating mobile offshore drilling platforms (jack-up rigs). Its primary focus is on jack-up rigs, which its customers uses for exploratory and development drilling and, in certain areas, well workover operations. In addition, it had three deepwater drillships, as of December 31, 2011, which was under construction. It conducts offshore drilling operations in various markets throughout the world, and as of February 27, 2012, it had 11 rigs in the Middle East, 10 in the United Sates Gulf of Mexico, six in the North Sea, two in Trinidad, and one each in Malaysia and Vietnam. On September 1, 2011, it completed the sale of its land drilling services business. On June 22, 2011, it completed the sale of its wholly owned manufacturing subsidiary, LeTourneau Technologies, Inc.