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Rowan Cos (NYSE:RDC) has been downgraded from Outperform to Neutral in a statement by Credit Suisse earlier today.

Boasting a price of $14.06, Rowan Cos (NYSE:RDC) traded 0.18% higher on the day. With the last close down -12.40% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Rowan Cos has recorded a 50-day average of $13.41 and a two hundred day average of $16.08. Volume of trade was down over the average, with 1,473,480 shares of RDC changing hands under the typical 3,510,600

Credit Suisse has downgraded Rowan Cos (NYSE:RDC) from Outperform to Neutral in a statement released on 9/23/2016.

Performance Chart

Rowan Cos (NYSE:RDC)

Rowan Cos has a 52 week low of $10.67 and a 52 week high of $21.83 with a P/E ratio of 7.87 The company’s market cap is currently $0.

In addition to Credit Suisse 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 Cos (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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