Ensco Plc (ESV) Bonds Trading 1.3% Lower
An issue of Ensco Plc (NYSE:ESV) bonds fell 1.3% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 4.5% coupon and will mature on October 1, 2024. The bonds in the issue are now trading at $82.50 and were trading at $81.50 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
A number of analysts have recently weighed in on ESV shares. Citigroup Inc upgraded Ensco Plc from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $15.00 in a research report on Wednesday, January 11th. Bank of America Corp upgraded Ensco Plc from a “neutral” rating to a “buy” rating and increased their price target for the stock from $8.00 to $14.00 in a research report on Monday, January 9th. Credit Suisse Group AG set a $15.00 price target on Ensco Plc and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Evercore ISI increased their price target on Ensco Plc from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, March 3rd. Finally, Jefferies Group LLC dropped their price target on Ensco Plc from $12.00 to $11.50 and set a “hold” rating on the stock in a research report on Wednesday, March 1st. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.92.
Ensco Plc (NYSE:ESV) traded down 0.47% during midday trading on Monday, hitting $8.49. The stock had a trading volume of 6,936,306 shares. The stock’s 50-day moving average is $10.02 and its 200-day moving average is $9.26. The company has a market cap of $2.57 billion, a P/E ratio of 2.71 and a beta of 1.74. Ensco Plc has a one year low of $6.49 and a one year high of $12.36.
Ensco Plc (NYSE:ESV) last issued its quarterly earnings results on Monday, February 27th. The offshore drilling services provider reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.04. Ensco Plc had a negative net margin of 52.28% and a positive return on equity of 8.58%. The company had revenue of $505 million for the quarter, compared to the consensus estimate of $505.61 million. During the same quarter in the prior year, the company earned ($10.64) EPS. Ensco Plc’s quarterly revenue was down 39.0% on a year-over-year basis. Equities analysts predict that Ensco Plc will post ($0.20) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Monday, March 6th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.04 annualized dividend and a yield of 0.47%. Ensco Plc’s dividend payout ratio is presently -0.53%.
A number of large investors have recently added to or reduced their stakes in the company. Smith Salley & Associates bought a new stake in Ensco Plc during the fourth quarter valued at approximately $111,000. IndexIQ Advisors LLC bought a new stake in Ensco Plc during the third quarter valued at approximately $106,000. Stockman Asset Management bought a new stake in Ensco Plc during the third quarter valued at approximately $111,000. Tyers Asset Management LLC bought a new stake in Ensco Plc during the fourth quarter valued at approximately $130,000. Finally, Sciencast Management LP bought a new stake in Ensco Plc during the fourth quarter valued at approximately $148,000. Institutional investors and hedge funds own 88.70% of the company’s stock.
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Ensco Plc Company Profile
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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