NEW YORK (

TheStreet

) --

Rowan Companies

(NYSE:

RDC

) hit a new 52-week high Friday as it traded at $42.94 compared with its previous 52-Week high of $40.64. Rowan Companies is changing hands at $42.93 with 233,469 shares traded as of 9:32 a.m. ET. Average volume has been 2.4 million shares over the past 30 days.

Rowan Companies has a market cap of $5 billion and is part of the

basic materials

sector and

energy

industry. Shares are up 14.1% year to date as of the close of trading on Thursday.

Rowan Companies, Inc. provides a range of onshore and offshore contract drilling services in the United States and internationally. The company has a P/E ratio of 16.1, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates Rowan Companies as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full

Rowan Companies Ratings Report

.

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