Rowan Companies (RDC) is set to release its second-quarter results tomorrow (August 1) before the markets open. Let’s see what analysts expect.
According to Reuters consensus, Rowan Companies’ estimated second-quarter revenue stands at $208.04 million—1.48% lower than its $211.2 million last quarter and 35.03% lower year-over-year. This level would mark the second consecutive fall in Rowan’s quarterly revenues. In the first quarter, Rowan’s revenues were down 28.8% sequentially.
Ensco (ESV) and Diamond Offshore (DO) have already released their second-quarter results. Ensco’s Q2 2018 revenue was $458.5 million—9.9% higher than the previous quarter. Diamond Offshore’s Q2 2018 revenue was $268.8 million—9% lower than the previous quarter.
Analysts expect Rowan Companies’ EBITDA at $16.9 million in Q2 2018, compared to $25.6 million in the first quarter and $130.7 million in Q2 2017. This EBITDA would represent a 33.9% fall quarter-over-quarter. Rowan Companies’ estimated second-quarter EPS is -$0.93.
Twenty-nine analysts have recommendations on Rowan Companies. Of these, 45% are bullish on RDC. Four have “strong buy” ratings, and nine analysts have “buy” ratings. Of the total, 48% or 14 analysts are neutral and have “hold” ratings. The remaining 7% or two analysts have “sell” ratings for Rowan Companies. 48% of the analysts covering Transocean (RIG) are bullish on the company, while only 23% of the analysts covering Noble Corporation (NE) are bullish on NE.