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Rowan Companies PLC (NYSE:RDC) has been downgraded to Sell in a report by Societe Generale today.

Yesterday Rowan Companies PLC (NYSE:RDC) traded -2.72% lower at $15.16. The company’s 50-day moving average is $13.39 and its 200-day moving average is $15.99. The last closing price is down -7.75% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 294,098 shares of the stock traded hands, down from an average trading volume of 3,762,710

Societe Generale has downgraded Rowan Companies PLC (NYSE:RDC) to Sell in a statement released on 10/03/2016.

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Rowan Companies PLC (NYSE:RDC)

Rowan Companies PLC has a one year low of $10.67 and a one year high of $21.83 with a P/E ratio of 8.24 The company’s market cap is currently $0.

In addition to Societe Generale reporting its target price, a total of 32 firms have reported on the stock. The consensus target price is $17.31 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 0 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Rowan Companies PLC (NYSE:RDC)

Rowan Companies plc is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships. Its drilling fleet consists of approximately four ultra-deepwater drillships; 20 high-specification cantilever jack-up rigs, including three N-Class rigs, four EXL class rigs, three 240C class rigs, four enhanced Super Gorilla class rigs, one Gorilla class rig, and four Tarzan Class rigs, and eight cantilever jack-up rigs, including two Gorilla class rigs and six 116-C class rigs. The Company's fleet operates across the world, including the United States Gulf of Mexico, the United Kingdom and Norwegian sectors of the North Sea, the Middle East and Trinidad.

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