Rowan Reports Second Quarter 2016 Results
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Jefferies Cuts Price Target on Rowan Cos. (RDC) to $18; Reiterates Buy
August 3, 2016 10:03 AM EDTJefferies maintained a Buy rating on Rowan Companies (NYSE: RDC), and cut the price target to $18.00 (from $21.00), following the company's 2Q earnings report.
Analyst Eduardo Royes commented, "Uncertainty was introduced by CIE on their call regarding their intentions for RDC's Reliance drillship added... More
Rowan Cos. (RDC) Misses Q2 EPS by 6c
August 2, 2016 7:02 AM EDTRowan Cos. (NYSE: RDC) reported Q2 EPS of $0.75, $0.06 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $611.9 million versus the consensus estimate of $489.22 million.
Tom Burke, President and Chief Executive Officer, commented, "Our ability to add significant backlog in... More
