On Friday, Shares of Rowan Companies plc (NYSE: RDC) gained 2.31% to $15.47. The stock opened its trade at $15.00 and after floating in a price range of $14.77 to $15.51, the stock grabbed the investor’s attention and traded 1.46m shares as compared to its average daily volume of 2.61M shares. The stock’s institutional ownership stands at 89.90%.
Rowan Cos. (RDC) stated a first-quarter loss of $112.30M, after reporting a profit in the same period a year earlier. On a per-share basis, the Houston-based company said it had a loss of 89 cents. The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 86 cents per share.
The offshore oil and gas drilling contractor posted revenue of $211.20M in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $216.40M.
RDC has a market value of $1.95B while its EPS was booked as $-0.44 in the last 12 months. The stock has 126.12M shares outstanding. In the profitability analysis, the company has gross profit margin of 40.00% while net profit margin was -4.40%. Beta value of the company was 1.83; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.70.