Ensco PLC (ESV) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Ensco PLC (NYSE:ESV) have received an average rating of “Hold” from the thirty analysts that are covering the company. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $11.33.
A number of equities analysts have recently commented on the stock. FBR & Co decreased their price target on shares of Ensco PLC from $25.00 to $9.00 and set a “market perform” rating on the stock in a report on Friday, October 28th. Clarkson Capital raised shares of Ensco PLC from a “sell” rating to a “neutral” rating in a report on Tuesday, October 25th. BMO Capital Markets raised shares of Ensco PLC from an “underperform” rating to a “market perform” rating and set a $8.00 price target on the stock in a report on Monday, October 17th. They noted that the move was a valuation call. Jefferies Group reissued a “hold” rating and issued a $8.00 price target (down previously from $10.00) on shares of Ensco PLC in a report on Wednesday, September 28th. Finally, Evercore ISI reissued a “buy” rating on shares of Ensco PLC in a report on Thursday, September 22nd.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Ensco PLC by 30.5% in the second quarter. Vanguard Group Inc. now owns 32,399,404 shares of the offshore drilling services provider’s stock worth $314,598,000 after buying an additional 7,576,931 shares in the last quarter. State Street Corp raised its stake in Ensco PLC by 16.6% in the second quarter. State Street Corp now owns 14,491,794 shares of the offshore drilling services provider’s stock worth $140,714,000 after buying an additional 2,060,673 shares in the last quarter. BlackRock Fund Advisors raised its stake in Ensco PLC by 4.5% in the third quarter. BlackRock Fund Advisors now owns 11,958,458 shares of the offshore drilling services provider’s stock worth $101,647,000 after buying an additional 511,713 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Ensco PLC by 29.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,224,245 shares of the offshore drilling services provider’s stock worth $89,567,000 after buying an additional 2,076,854 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Ensco PLC by 5.4% in the third quarter. Prudential Financial Inc. now owns 8,036,892 shares of the offshore drilling services provider’s stock worth $68,314,000 after buying an additional 415,040 shares in the last quarter. Institutional investors and hedge funds own 87.81% of the company’s stock.
Ensco PLC (NYSE:ESV) traded down 5.495% during trading on Tuesday, reaching $7.825. 5,709,594 shares of the company traded hands. The firm’s 50 day moving average price is $8.30 and its 200 day moving average price is $8.85. The firm’s market capitalization is $2.36 billion. Ensco PLC has a 12-month low of $6.50 and a 12-month high of $17.51.
Ensco PLC (NYSE:ESV) last posted its earnings results on Wednesday, October 26th. The offshore drilling services provider reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.15. The business had revenue of $548 million for the quarter, compared to analyst estimates of $541.65 million. Ensco PLC had a negative net margin of 52.28% and a positive return on equity of 8.58%. Ensco PLC’s revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. Equities research analysts expect that Ensco PLC will post $1.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Monday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 1st. This represents a $0.04 dividend on an annualized basis and a yield of 0.48%. Ensco PLC’s dividend payout ratio is currently -0.53%.
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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