Rowan Reports Second Quarter 2016 Results

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Go back to Rowan Reports Second Quarter 2016 Results

Jefferies Cuts Price Target on Rowan Cos. (RDC) to $18; Reiterates Buy

August 3, 2016 10:03 AM EDT

Jefferies 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 EDT

Rowan 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