Susquehanna Reaffirms Their Hold Rating on Rowan Companies

By Austin Angelo

In a report released today, Charles Minervino from Susquehanna reiterated a Hold rating on Rowan Companies (NYSE: RDC), with a price target of $15. The company’s shares closed yesterday at $17.10.

According to, Minervino is a 1-star analyst with an average return of -2.8% and a 54.0% success rate. Minervino covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oil States International.

Currently, the analyst consensus on Rowan Companies is Moderate Buy and the average price target is $15.82, representing a -7.5% downside.

In a report issued on January 4, Jefferies also reiterated a Hold rating on the stock with a $16 price target.

Based on Rowan Companies’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $292 million and GAAP net loss of $20.9 million. In comparison, last year the company earned revenue of $352 million and had a GAAP net loss of $24.4 million.

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Rowan Cos. Plc provides offshore contract drilling services to the international oil and gas industry. It focuses on high specification and premium jack-up rigs, which are used for exploratory and development drilling operations. The company operates through two segments: Deepwater, which consists of drillship operations, and Jack-Ups.