Earnings Preview: Rowan Companies

Aug. 4.08 | About: Rowan Companies (RDC)

Rowan Companies (NYSE:RDC) is expected to report Q2 earnings before market open Tuesday, Aug. 5, with a conference call scheduled for 12:00 pm ET.

Guidance

Analysts are looking for a profit of $1.16 on revenue of $1.76B. The consensus range is $1.08 to $1.20 for EPS, and revenue of $1.72B to $1.79B, according to First Call.

Analyst Views

Rowan is down over -4.3% today, ahead of its earnings release tomorrow morning.

JP Morgan upgraded Rowan to Neutral from Underperform on July 28 based on valuation and potential catalysts over the next three months, including the monetization of LeTourneau, the potential success on the deep shelf Blackbeard well, and strong international markets for Rowan's niche assets.