Eye-Catching Stock: Rowan Companies (NYSE: RDC)

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.

David Rich

David Rich

I am David Rich and I focus on breaking news stories and ensuring we (“Stocks Pen”) offer timely reporting on some of the most recent stories released through market wires about “Basic Materials” Sector companies. I have formerly spent over 5 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for “Stocks Pen” specializing in quicker moving active shares with a short term view on investment opportunities and trends.

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