ENSCO PLC (ESV) Lowered to “Sell” at ValuEngine
ENSCO PLC (NYSE:ESV) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday, July 12th.
ESV has been the topic of a number of other reports. Barclays PLC restated a “sell” rating and issued a $8.00 price target on shares of ENSCO PLC in a report on Thursday, April 27th. BidaskClub upgraded ENSCO PLC from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Bank of America Corporation lowered ENSCO PLC from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $7.00 to $5.00 in a report on Friday, June 30th. Jefferies Group LLC set a $9.00 target price on ENSCO PLC and gave the stock a “hold” rating in a report on Wednesday, May 24th. Finally, Scotiabank set a $13.00 target price on ENSCO PLC and gave the stock a “buy” rating in a report on Wednesday, March 22nd. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $9.64.
Shares of ENSCO PLC (NYSE ESV) opened at 4.83 on Wednesday. ENSCO PLC has a 12-month low of $4.71 and a 12-month high of $12.04. The firm has a 50-day moving average price of $5.31 and a 200-day moving average price of $7.90. The firm has a market cap of $1.47 billion, a P/E ratio of 30.19 and a beta of 1.64.
ENSCO PLC (NYSE:ESV) last issued its quarterly earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $457.50 million for the quarter, compared to analyst estimates of $453.48 million. ENSCO PLC had a return on equity of 0.77% and a net margin of 2.68%. The company’s quarterly revenue was down 49.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 earnings per share. On average, equities research analysts expect that ENSCO PLC will post ($0.37) earnings per share for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of ESV. Principal Financial Group Inc. increased its stake in shares of ENSCO PLC by 4.8% in the second quarter. Principal Financial Group Inc. now owns 1,297,529 shares of the offshore drilling services provider’s stock worth $6,696,000 after buying an additional 58,893 shares during the last quarter. Contrarius Investment Management Ltd increased its stake in shares of ENSCO PLC by 114.5% in the second quarter. Contrarius Investment Management Ltd now owns 7,638,005 shares of the offshore drilling services provider’s stock worth $39,412,000 after buying an additional 4,077,861 shares during the last quarter. Leucadia National Corp acquired a new stake in shares of ENSCO PLC during the second quarter worth $1,084,000. Virginia Retirement Systems ET AL increased its stake in shares of ENSCO PLC by 27.0% in the second quarter. Virginia Retirement Systems ET AL now owns 154,719 shares of the offshore drilling services provider’s stock worth $798,000 after buying an additional 32,900 shares during the last quarter. Finally, Hourglass Capital LLC increased its stake in shares of ENSCO PLC by 39.9% in the second quarter. Hourglass Capital LLC now owns 273,500 shares of the offshore drilling services provider’s stock worth $1,411,000 after buying an additional 78,000 shares during the last quarter. Institutional investors and hedge funds own 89.52% 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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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