Investors Update: Rowan Companies plc (NYSE: RDC)

Rowan Companies plc (NYSE: RDC) spotted trading -42.41% off 52-week high price. On the other end, the stock has been noted 54.70% away from the low price over the last 52-weeks. The stock changed -3.92% to recent value of $12.02. The stock transacted 2406689 shares during most recent day however it has an average volume of 2708K shares. The company has 127.1M of outstanding shares and 124.75M shares were floated in the market.  

Rowan Companies plc (NYSE: RDC) declared that the Rowan Viking, an N-Class ultra-harsh environment jack-up rig, has been awarded a seven-well program by Lundin Norway AS in Norway for a minimum duration of 265 days.  The contract is expected to commence in Q2/Q3 2020 and has four additional one-well priced options.  The Rowan Viking has just completed the first well of a two-well program for MOL Norges AS in Norway and will perform a Special Periodic Survey prior to commencing the second well with MOL, which is expected to start in April 2019 and has an estimated duration of 140 days.

Rowan is a global provider of contract drilling services with a fleet of 25 mobile offshore drilling units, composed of 21 self-elevating jack-up rigs and four ultra-deepwater drillships.  The Company’s fleet operates worldwide, including the United States Gulf of Mexico, the United Kingdom and Norwegian sectors of the North Sea, the Middle East, the Mediterranean Sea, and Trinidad. Additionally, the Company is a 50/50 partner in a joint venture with Saudi Aramco, entitled ARO Drilling, that owns a fleet of seven self-elevating jack-up rigs that operate in the Arabian Gulf.  The Company’s Class A Ordinary Shares are traded on the New York Stock Exchange under the symbol “RDC”.
 Its earnings per share (EPS) expected to touch remained -77.60% for this year while earning per share for the next 5-years is expected to reach at -4.40%. RDC has a gross margin of 26.10% and an operating margin of -10.90% while its profit margin remained -23.50% for the last 12 months. 

 According to the most recent quarter its current ratio was 3 that represents company’s ability to meet its current financial obligations. The price moved ahead of 14.03% from the mean of 20 days, 3.56% from mean of 50 days SMA and performed -17.91% from mean of 200 days price. Company’s performance for the week was -0.83%, 33.26% for month and YTD performance remained 43.27%.

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