ENSCO PLC (ESV) Bonds Trading 2.5% Higher
An issue of ENSCO PLC (NYSE:ESV) bonds rose 2.5% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 7.875% coupon and is set to mature on August 15, 2040. The bonds in the issue are now trading at $83.00 and were trading at $79.53 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.
Several equities analysts have commented on ESV shares. BMO Capital Markets raised their target price on shares of ENSCO PLC from $4.75 to $5.00 and gave the company a “market perform” rating in a report on Friday, July 28th. ValuEngine lowered shares of ENSCO PLC from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of ENSCO PLC from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Piper Jaffray Companies raised shares of ENSCO PLC from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $9.20 to $8.00 in a report on Monday, June 19th. Finally, Bank of America Corporation lowered shares of ENSCO PLC from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $7.00 to $5.00 in a report on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.83.
Shares of ENSCO PLC (NYSE:ESV) opened at 5.18 on Friday. The stock has a 50 day moving average of $4.68 and a 200 day moving average of $6.60. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 32.38 and a beta of 1.65. ENSCO PLC has a 1-year low of $4.10 and a 1-year high of $12.04.
ENSCO PLC (NYSE:ESV) last announced its quarterly earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. ENSCO PLC had a return on equity of 0.77% and a net margin of 2.68%. The company had revenue of $457.50 million during the quarter, compared to analyst estimates of $453.48 million. During the same quarter last year, the firm posted $2.04 earnings per share. The firm’s revenue was down 49.7% on a year-over-year basis. Analysts predict that ENSCO PLC will post ($0.38) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Monday, September 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, September 8th. ENSCO PLC’s payout ratio is 23.53%.
Hedge funds have recently made changes to their positions in the stock. ZWJ Investment Counsel Inc. raised its holdings in ENSCO PLC by 1.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 11,635 shares of the offshore drilling services provider’s stock worth $104,000 after purchasing an additional 180 shares in the last quarter. HRT Financial LLC bought a new position in ENSCO PLC in the first quarter worth $126,000. Nomura Asset Management Co. Ltd. raised its holdings in ENSCO PLC by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 17,400 shares of the offshore drilling services provider’s stock worth $156,000 after purchasing an additional 5,800 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in ENSCO PLC in the first quarter worth $158,000. Finally, Neuberger Berman Group LLC raised its holdings in ENSCO PLC by 2.3% in the first quarter. Neuberger Berman Group LLC now owns 19,304 shares of the offshore drilling services provider’s stock worth $173,000 after purchasing an additional 436 shares in the last quarter. 91.56% of the stock is owned by institutional investors.
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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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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