Rowan Companies (RDC) Sitting On Profits, Stifling Growth

I have commented on the value available at Rowan Companies PLC (NYSE:RDC) before. The company currently trades slightly below book and the delivery of new drillships over the next year or so should significantly boost the company’s bottom line. However, it could be the case that despite Rowan Companies PLC (NYSE:RDC)’s discount and very strong balance sheet, the company is not living up to its full potential. Rowan has the highest current ratio amongst its peers For a start, Rowan Companies PLC (NYSE:RDC) has the highest current ratio amongst its peers, the company has a current ratio of 6.2 compared to…