Intrinsic value of Rowan Cos. - RDC

Previous Close

$12.96

  Intrinsic Value

$10.69

stock screener

  Rating & Target

hold

-18%

Previous close

$12.96

 
Intrinsic value

$10.69

 
Up/down potential

-18%

 
Rating

hold

We calculate the intrinsic value of RDC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,309
  1,339
  1,373
  1,412
  1,455
  1,502
  1,553
  1,608
  1,668
  1,732
  1,800
  1,873
  1,951
  2,034
  2,121
  2,214
  2,313
  2,417
  2,527
  2,643
  2,765
  2,895
  3,031
  3,174
  3,325
  3,484
  3,652
  3,828
  4,014
  4,209
Variable operating expenses, $m
  284
  291
  298
  306
  316
  326
  337
  349
  362
  376
  391
  406
  423
  441
  460
  481
  502
  524
  548
  574
  600
  628
  658
  689
  722
  756
  792
  831
  871
  913
Fixed operating expenses, $m
  965
  986
  1,008
  1,030
  1,053
  1,076
  1,099
  1,124
  1,148
  1,173
  1,199
  1,226
  1,253
  1,280
  1,308
  1,337
  1,367
  1,397
  1,427
  1,459
  1,491
  1,524
  1,557
  1,591
  1,626
  1,662
  1,699
  1,736
  1,774
  1,813
Total operating expenses, $m
  1,249
  1,277
  1,306
  1,336
  1,369
  1,402
  1,436
  1,473
  1,510
  1,549
  1,590
  1,632
  1,676
  1,721
  1,768
  1,818
  1,869
  1,921
  1,975
  2,033
  2,091
  2,152
  2,215
  2,280
  2,348
  2,418
  2,491
  2,567
  2,645
  2,726
Operating income, $m
  60
  62
  68
  76
  86
  100
  116
  136
  158
  182
  210
  241
  275
  312
  353
  397
  444
  496
  551
  611
  674
  743
  816
  894
  977
  1,066
  1,161
  1,261
  1,368
  1,482
EBITDA, $m
  754
  773
  796
  825
  858
  897
  940
  989
  1,042
  1,101
  1,165
  1,235
  1,310
  1,391
  1,478
  1,572
  1,671
  1,778
  1,892
  2,013
  2,142
  2,279
  2,424
  2,578
  2,742
  2,915
  3,098
  3,293
  3,498
  3,715
Interest expense (income), $m
  159
  151
  154
  158
  163
  169
  175
  182
  189
  197
  206
  215
  225
  235
  246
  258
  271
  284
  298
  313
  329
  345
  363
  382
  401
  422
  443
  466
  490
  515
  542
Earnings before tax, $m
  -91
  -92
  -91
  -88
  -82
  -75
  -65
  -53
  -39
  -23
  -4
  17
  40
  66
  95
  126
  160
  198
  238
  282
  329
  380
  434
  493
  556
  623
  695
  771
  853
  940
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  4
  11
  18
  26
  34
  43
  53
  64
  76
  89
  103
  117
  133
  150
  168
  188
  208
  230
  254
Net income, $m
  -91
  -92
  -91
  -88
  -82
  -75
  -65
  -53
  -39
  -23
  -4
  12
  29
  48
  69
  92
  117
  144
  174
  206
  240
  277
  317
  360
  406
  455
  507
  563
  623
  686

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,521
  7,694
  7,892
  8,114
  8,360
  8,630
  8,924
  9,242
  9,584
  9,952
  10,346
  10,766
  11,213
  11,688
  12,192
  12,726
  13,292
  13,890
  14,522
  15,189
  15,893
  16,636
  17,418
  18,243
  19,111
  20,026
  20,988
  22,001
  23,067
  24,187
Adjusted assets (=assets-cash), $m
  7,521
  7,694
  7,892
  8,114
  8,360
  8,630
  8,924
  9,242
  9,584
  9,952
  10,346
  10,766
  11,213
  11,688
  12,192
  12,726
  13,292
  13,890
  14,522
  15,189
  15,893
  16,636
  17,418
  18,243
  19,111
  20,026
  20,988
  22,001
  23,067
  24,187
Revenue / Adjusted assets
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
  0.174
Average production assets, $m
  6,944
  7,103
  7,286
  7,491
  7,718
  7,967
  8,239
  8,532
  8,849
  9,188
  9,552
  9,939
  10,352
  10,791
  11,256
  11,749
  12,272
  12,824
  13,407
  14,023
  14,673
  15,359
  16,081
  16,843
  17,645
  18,489
  19,377
  20,312
  21,296
  22,331
Working capital, $m
  -99
  -102
  -104
  -107
  -111
  -114
  -118
  -122
  -127
  -132
  -137
  -142
  -148
  -155
  -161
  -168
  -176
  -184
  -192
  -201
  -210
  -220
  -230
  -241
  -253
  -265
  -278
  -291
  -305
  -320
Total debt, $m
  2,567
  2,639
  2,721
  2,813
  2,916
  3,028
  3,150
  3,283
  3,425
  3,578
  3,742
  3,916
  4,102
  4,300
  4,510
  4,732
  4,967
  5,216
  5,479
  5,757
  6,050
  6,358
  6,684
  7,027
  7,388
  7,769
  8,169
  8,590
  9,034
  9,500
Total liabilities, $m
  3,129
  3,201
  3,283
  3,375
  3,478
  3,590
  3,712
  3,845
  3,987
  4,140
  4,304
  4,478
  4,664
  4,862
  5,072
  5,294
  5,529
  5,778
  6,041
  6,319
  6,612
  6,920
  7,246
  7,589
  7,950
  8,331
  8,731
  9,152
  9,596
  10,062
Total equity, $m
  4,392
  4,493
  4,609
  4,738
  4,882
  5,040
  5,211
  5,397
  5,597
  5,812
  6,042
  6,287
  6,548
  6,826
  7,120
  7,432
  7,762
  8,112
  8,481
  8,870
  9,282
  9,715
  10,172
  10,654
  11,161
  11,695
  12,257
  12,849
  13,471
  14,125
Total liabilities and equity, $m
  7,521
  7,694
  7,892
  8,113
  8,360
  8,630
  8,923
  9,242
  9,584
  9,952
  10,346
  10,765
  11,212
  11,688
  12,192
  12,726
  13,291
  13,890
  14,522
  15,189
  15,894
  16,635
  17,418
  18,243
  19,111
  20,026
  20,988
  22,001
  23,067
  24,187
Debt-to-equity ratio
  0.580
  0.590
  0.590
  0.590
  0.600
  0.600
  0.600
  0.610
  0.610
  0.620
  0.620
  0.620
  0.630
  0.630
  0.630
  0.640
  0.640
  0.640
  0.650
  0.650
  0.650
  0.650
  0.660
  0.660
  0.660
  0.660
  0.670
  0.670
  0.670
  0.670
Adjusted equity ratio
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -91
  -92
  -91
  -88
  -82
  -75
  -65
  -53
  -39
  -23
  -4
  12
  29
  48
  69
  92
  117
  144
  174
  206
  240
  277
  317
  360
  406
  455
  507
  563
  623
  686
Depreciation, amort., depletion, $m
  694
  710
  729
  749
  772
  797
  824
  853
  885
  919
  955
  994
  1,035
  1,079
  1,126
  1,175
  1,227
  1,282
  1,341
  1,402
  1,467
  1,536
  1,608
  1,684
  1,764
  1,849
  1,938
  2,031
  2,130
  2,233
Funds from operations, $m
  604
  619
  638
  661
  689
  722
  759
  800
  845
  896
  951
  1,006
  1,064
  1,127
  1,195
  1,267
  1,344
  1,427
  1,515
  1,608
  1,708
  1,813
  1,925
  2,044
  2,170
  2,304
  2,445
  2,594
  2,752
  2,919
Change in working capital, $m
  -2
  -2
  -3
  -3
  -3
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
Cash from operations, $m
  606
  621
  640
  664
  693
  725
  762
  804
  850
  901
  956
  1,012
  1,070
  1,134
  1,201
  1,274
  1,352
  1,435
  1,523
  1,617
  1,717
  1,823
  1,936
  2,055
  2,182
  2,316
  2,457
  2,608
  2,766
  2,934
Maintenance CAPEX, $m
  -681
  -694
  -710
  -729
  -749
  -772
  -797
  -824
  -853
  -885
  -919
  -955
  -994
  -1,035
  -1,079
  -1,126
  -1,175
  -1,227
  -1,282
  -1,341
  -1,402
  -1,467
  -1,536
  -1,608
  -1,684
  -1,764
  -1,849
  -1,938
  -2,031
  -2,130
New CAPEX, $m
  -137
  -160
  -183
  -205
  -227
  -249
  -271
  -294
  -316
  -340
  -363
  -388
  -413
  -439
  -465
  -493
  -522
  -552
  -583
  -616
  -650
  -685
  -723
  -761
  -802
  -844
  -889
  -935
  -984
  -1,035
Cash from investing activities, $m
  -818
  -854
  -893
  -934
  -976
  -1,021
  -1,068
  -1,118
  -1,169
  -1,225
  -1,282
  -1,343
  -1,407
  -1,474
  -1,544
  -1,619
  -1,697
  -1,779
  -1,865
  -1,957
  -2,052
  -2,152
  -2,259
  -2,369
  -2,486
  -2,608
  -2,738
  -2,873
  -3,015
  -3,165
Free cash flow, $m
  -212
  -233
  -253
  -269
  -284
  -296
  -306
  -314
  -320
  -324
  -326
  -331
  -336
  -340
  -343
  -345
  -345
  -345
  -343
  -340
  -336
  -330
  -323
  -314
  -305
  -293
  -280
  -265
  -249
  -230
Issuance/(repayment) of debt, $m
  56
  72
  82
  92
  102
  112
  122
  132
  143
  153
  164
  175
  186
  198
  210
  222
  235
  249
  263
  278
  293
  309
  326
  343
  361
  380
  400
  421
  443
  466
Issuance/(repurchase) of shares, $m
  172
  193
  206
  217
  226
  233
  237
  239
  240
  238
  234
  233
  232
  229
  225
  220
  213
  205
  195
  184
  171
  156
  140
  122
  102
  79
  55
  29
  0
  0
Cash from financing (excl. dividends), $m  
  228
  265
  288
  309
  328
  345
  359
  371
  383
  391
  398
  408
  418
  427
  435
  442
  448
  454
  458
  462
  464
  465
  466
  465
  463
  459
  455
  450
  443
  466
Total cash flow (excl. dividends), $m
  15
  32
  36
  40
  45
  49
  54
  58
  62
  67
  72
  77
  82
  87
  92
  97
  103
  109
  115
  122
  128
  135
  143
  150
  158
  167
  175
  185
  195
  236
Retained Cash Flow (-), $m
  -172
  -193
  -206
  -217
  -226
  -233
  -237
  -239
  -240
  -238
  -234
  -245
  -261
  -277
  -294
  -312
  -330
  -349
  -369
  -390
  -411
  -434
  -457
  -482
  -507
  -534
  -562
  -591
  -622
  -655
Prev. year cash balance distribution, $m
  1,075
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  30
  30
  31
  32
  32
  33
  35
  36
  37
  38
  40
  41
  43
  45
  47
  49
  51
  53
  56
  58
  61
  64
  67
  70
  73
  76
  80
  84
  88
  92
Cash available for distribution, $m
  919
  -161
  -170
  -177
  -181
  -183
  -183
  -181
  -177
  -171
  -163
  -169
  -180
  -191
  -203
  -215
  -227
  -240
  -254
  -268
  -283
  -298
  -314
  -331
  -349
  -367
  -387
  -407
  -428
  -419
Discount rate, %
  5.00
  5.25
  5.51
  5.79
  6.08
  6.38
  6.70
  7.04
  7.39
  7.76
  8.14
  8.55
  8.98
  9.43
  9.90
  10.39
  10.91
  11.46
  12.03
  12.63
  13.27
  13.93
  14.63
  15.36
  16.13
  16.93
  17.78
  18.67
  19.60
  20.58
PV of cash for distribution, $m
  875
  -146
  -145
  -141
  -135
  -126
  -116
  -105
  -93
  -81
  -69
  -63
  -59
  -54
  -49
  -44
  -39
  -34
  -29
  -25
  -21
  -17
  -14
  -11
  -8
  -6
  -5
  -3
  -2
  -2
Current shareholders' claim on cash, %
  94.6
  89.0
  83.6
  78.3
  73.3
  68.6
  64.3
  60.3
  56.7
  53.5
  50.6
  47.9
  45.5
  43.4
  41.4
  39.7
  38.1
  36.7
  35.5
  34.4
  33.5
  32.7
  32.1
  31.5
  31.1
  30.8
  30.6
  30.5
  30.5
  30.5

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. As of December 31, 2016, the Company's fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships. The Company's fleet operates across the world, including the United States Gulf of Mexico (US GOM), the United Kingdom and Norwegian sectors of the North Sea, the Middle East and Trinidad. As of February 14, 2017, the Company's drilling fleet consisted of four ultra-deepwater drillships; 19 high-specification cantilever jack-up rigs, and six premium cantilever jack-up rigs. Its jack-ups are capable of drilling wells to maximum depths ranging from 25,000 to 40,000 feet and in maximum water depths ranging from 300 to 550 feet, depending on rig size, location and outfitting.

FINANCIAL RATIOS  of  Rowan Cos. (RDC)

Valuation Ratios
P/E Ratio 5.1
Price to Sales 0.9
Price to Book 0.3
Price to Tangible Book
Price to Cash Flow 1.8
Price to Free Cash Flow 2.1
Growth Rates
Sales Growth Rate -13.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -83.7%
Cap. Spend. - 3 Yr. Gr. Rate -27.9%
Financial Strength
Quick Ratio 10
Current Ratio 0
LT Debt to Equity 49.9%
Total Debt to Equity 52.4%
Interest Coverage 3
Management Effectiveness
Return On Assets 5.6%
Ret/ On Assets - 3 Yr. Avg. 2.3%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. 1.3%
Return On Equity 6.5%
Return On Equity - 3 Yr. Avg. 2%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 57.8%
Gross Margin - 3 Yr. Avg. 52.3%
EBITDA Margin 48.2%
EBITDA Margin - 3 Yr. Avg. 29.3%
Operating Margin 26.4%
Oper. Margin - 3 Yr. Avg. 10.5%
Pre-Tax Margin 17.7%
Pre-Tax Margin - 3 Yr. Avg. 3.4%
Net Profit Margin 17.4%
Net Profit Margin - 3 Yr. Avg. 5.2%
Effective Tax Rate 1.5%
Eff/ Tax Rate - 3 Yr. Avg. 32.9%
Payout Ratio 0%

RDC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RDC stock intrinsic value calculation we used $1283 million for the last fiscal year's total revenue generated by Rowan Cos.. The default revenue input number comes from 2017 income statement of Rowan Cos.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RDC stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5%, whose default value for RDC is calculated based on our internal credit rating of Rowan Cos., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Rowan Cos..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RDC stock the variable cost ratio is equal to 21.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $944 million in the base year in the intrinsic value calculation for RDC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6% for Rowan Cos..

Corporate tax rate of 27% is the nominal tax rate for Rowan Cos.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RDC stock is equal to 2.3%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RDC are equal to 530.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Rowan Cos. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RDC is equal to -7.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $5386 million for Rowan Cos. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 126 million for Rowan Cos. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Rowan Cos. at the current share price and the inputted number of shares is $1.6 billion.

RELATED COMPANIES Price Int.Val. Rating
RIG Transocean 11.56 8.13  hold
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COMPANY NEWS

▶ Rowan Reports Second Quarter 2018 Results   [06:45AM  PR Newswire]
▶ Rowan Provides Fleet Status Report Update   [Jul-18-18 07:32PM  PR Newswire]
▶ Rowan Awarded Drillship Contract by ExxonMobil   [Jun-07-18 04:45PM  PR Newswire]
▶ Rowan: 1Q Earnings Snapshot   [May-01-18 07:23AM  Associated Press]
▶ Rowan Reports First Quarter 2018 Results   [06:45AM  PR Newswire]
▶ Rowan Provides Fleet Status Report Update   [Apr-19-18 12:00AM  PR Newswire]
▶ Rowan Announces Contract with Shell for the Rowan Viking   [Apr-02-18 06:00PM  PR Newswire]
▶ What Is Rowan Companies plcs (NYSE:RDC) Share Price Doing?   [Feb-28-18 06:19PM  Simply Wall St.]
▶ Rowan Provides Fleet Status Report Update   [Feb-14-18 02:07AM  PR Newswire]
▶ Week 3: Revised Target Prices for Diamond Offshore and Noble   [Jan-26-18 07:34AM  Market Realist]
▶ Noble Corporations Latest Fleet Status Report   [Jan-25-18 02:50PM  Market Realist]
▶ Offshore Drillers: Analyzing Target Price Revisions   [Jan-17-18 12:15PM  Market Realist]
▶ Week 2: Moodys Downgraded Ensco   [10:45AM  Market Realist]
▶ US Offshore Rig Count Increased by 2   [09:12AM  Market Realist]
▶ One More Downgrade Comes in for Diamond Offshore   [Jan-16-18 03:25PM  Market Realist]
▶ Week 1 Update for Rowan Companies   [Jan-11-18 12:55PM  Market Realist]
▶ Stocks Flashing Renewed Technical Strength: Rowan Companies   [Jan-04-18 03:00AM  Investor's Business Daily]
▶ Your Week 51 Offshore Drilling Industry Update   [Jan-02-18 11:58AM  Market Realist]
▶ Week 50: Offshore Drilling Update   [Dec-20-17 01:22PM  Market Realist]
▶ Analyst Recommendations for Top 2 Offshore Drillers in 2017   [Dec-19-17 10:31AM  Market Realist]
▶ US Crude Oil Rigs Are Near 3-Month High   [Dec-04-17 09:49AM  Market Realist]
▶ Production Cut Extension Could Influence US Natural Gas Rigs   [Dec-01-17 09:45AM  Market Realist]
▶ Citigroup Revised Offshore Drillers Target Prices Last Week   [Nov-22-17 11:30AM  Market Realist]
▶ Analysts Revised Target Prices for RIG, RDC, and NE   [Nov-14-17 12:15PM  Market Realist]
▶ ETFs with exposure to Rowan Cos. Plc : November 13, 2017   [Nov-13-17 01:06PM  Capital Cube]
▶ Stocks To Watch: Rowan Companies Sees RS Rating Rise To 83   [Nov-09-17 03:00AM  Investor's Business Daily]
▶ Analysts Revisions for Transocean and Rowan Companies   [Nov-01-17 09:20AM  Market Realist]
▶ Rowan reports 3Q loss   [07:01AM  Associated Press]
▶ Rowan Reports Third Quarter 2017 Results   [06:45AM  PR Newswire]
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