Rowan Companies plc RDC was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $7.97 to $10.48 in the past one-month time frame.
The stock gained after news that the company has received a revised bid from Ensco plc for the exchange rate ratio regarding their all-stock merger deal.
The company has seen one positive estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Rowan. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Rowan currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Rowan Companies PLC Price
Rowan Companies PLC Price | Rowan Companies PLC Quote
Investors interested in the Oils-Energy sector may consider a better-ranked stock like Canadian Solar Inc. CSIQ, which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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