FBR Capital Maintains an 'Outperform' on Rowan Companies (RDC); Adjusting Estimates on April Fleet Status
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Price: $10.93 --0%
Rating Summary:
15 Buy, 18 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 18 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains an 'Outperform' on Rowan Companies (NYSE: RDC), PT $50.
FBR analyst said, "Rowan's high-quality fleet should fare well in upcoming tenders and have higher utilization than most. In addition, our sum-of-the-parts (SOP) analysis indicates there is upside for RDC from the monetization of LeTourneau (LTI) and the land drilling business over the next year. While Ensco plc (NYSE: ESV)(Outperform) remains our favorite offshore driller stock, we believe RDC will still yield attractive returns for investors."
"We are adjusting our Rowan EPS estimates based on the company's April fleet status report. We are simultaneously lowering our 2011 EPS estimate to $2.35 from $2.40 while we are increasing our 2012 EPS estimate by 10 cents to $3.90."
For more ratings news on Rowan Companies click here and for the rating history of Rowan Companies click here.
Shares of Rowan Companies closed at $40.95 yesterday.
FBR analyst said, "Rowan's high-quality fleet should fare well in upcoming tenders and have higher utilization than most. In addition, our sum-of-the-parts (SOP) analysis indicates there is upside for RDC from the monetization of LeTourneau (LTI) and the land drilling business over the next year. While Ensco plc (NYSE: ESV)(Outperform) remains our favorite offshore driller stock, we believe RDC will still yield attractive returns for investors."
"We are adjusting our Rowan EPS estimates based on the company's April fleet status report. We are simultaneously lowering our 2011 EPS estimate to $2.35 from $2.40 while we are increasing our 2012 EPS estimate by 10 cents to $3.90."
For more ratings news on Rowan Companies click here and for the rating history of Rowan Companies click here.
Shares of Rowan Companies closed at $40.95 yesterday.
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