Ensco PLC (ESV) Upgraded to Market Perform at BMO Capital Markets
BMO Capital Markets upgraded shares of Ensco PLC (NYSE:ESV) from an underperform rating to a market perform rating in a research report sent to investors on Monday. The brokerage currently has $8.00 target price on the offshore drilling services provider’s stock. The analysts noted that the move was a valuation call.
ESV has been the subject of a number of other research reports. Zephirin Group raised shares of Ensco PLC from a hold rating to a buy rating and set a $12.00 price objective for the company in a research report on Monday, September 19th. Howard Weil reaffirmed a sector outperform rating on shares of Ensco PLC in a research report on Thursday, September 15th. Citigroup Inc. upped their target price on shares of Ensco PLC from $9.00 to $11.00 and gave the stock a neutral rating in a research report on Thursday, August 25th. Scotiabank restated a sector outperform rating and issued a $10.00 target price on shares of Ensco PLC in a research report on Wednesday, September 14th. Finally, DNB Markets cut shares of Ensco PLC from a hold rating to a sell rating in a research report on Tuesday, July 19th. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $11.61.
Ensco PLC (NYSE:ESV) traded up 0.96% during trading on Monday, reaching $8.39. The company had a trading volume of 691,805 shares. The company’s market capitalization is $2.53 billion. Ensco PLC has a 52-week low of $6.50 and a 52-week high of $18.93. The stock has a 50 day moving average price of $7.71 and a 200-day moving average price of $9.36.
Ensco PLC (NYSE:ESV) last announced its quarterly earnings data on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $1.51. Ensco PLC had a negative net margin of 39.67% and a positive return on equity of 10.06%. The business earned $910 million during the quarter, compared to the consensus estimate of $746.55 million. During the same quarter in the prior year, the firm earned $1.11 EPS. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, equities research analysts anticipate that Ensco PLC will post $1.57 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Sigma Planning Corp bought a new stake in Ensco PLC during the second quarter valued at $101,000. Shoker Investment Counsel Inc. boosted its stake in Ensco PLC by 1.1% in the second quarter. Shoker Investment Counsel Inc. now owns 10,496 shares of the offshore drilling services provider’s stock valued at $101,000 after buying an additional 111 shares during the last quarter. Wealthsource Partners LLC bought a new stake in Ensco PLC during the second quarter valued at $111,000. Eqis Capital Management Inc. bought a new stake in Ensco PLC during the second quarter valued at $122,000. Finally, First Allied Advisory Services Inc. bought a new stake in Ensco PLC during the second quarter valued at $129,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.
About Ensco PLC
Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company’s segments include Floaters, Jackups and Other. Its Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling.
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