An issue of Ensco Plc (NYSE:ESV) debt rose 2.5% against its face value during trading on Friday. The high-yield issue of debt 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 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

A number of analysts have issued reports on ESV shares. Jefferies Group LLC set a $9.00 target price on Ensco Plc and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Clarkson Capital raised Ensco Plc from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Tuesday, May 30th. Seaport Global Securities raised Ensco Plc from a “sell” rating to a “neutral” rating and set a $6.50 target price for the company in a research note on Wednesday, May 31st. BidaskClub raised Ensco Plc from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Piper Jaffray Companies raised Ensco Plc from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $9.20 to $8.00 in a research note on Monday, June 19th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Ensco Plc presently has an average rating of “Hold” and a consensus price target of $9.83.

Ensco Plc (NYSE ESV) opened at 5.18 on Friday. The stock has a 50 day moving average price of $4.68 and a 200 day moving average price of $6.60. The stock has a market cap of $1.57 billion, a PE ratio of 32.38 and a beta of 1.65. Ensco Plc has a 52 week low of $4.10 and a 52 week high of $12.04.

Ensco Plc (NYSE:ESV) last issued its earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $453.48 million. During the same quarter in the prior year, the business earned $2.04 earnings per share. The company’s revenue was down 49.7% compared to the same quarter last year. On average, equities analysts predict that Ensco Plc will post ($0.38) earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Monday, September 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, September 8th. Ensco Plc’s payout ratio is 23.53%.

A number of institutional investors and hedge funds have recently modified their holdings of ESV. Nisa Investment Advisors LLC purchased a new position in Ensco Plc in the first quarter valued at about $297,000. Nationwide Fund Advisors boosted its holdings in Ensco Plc by 3.0% in the first quarter. Nationwide Fund Advisors now owns 547,531 shares of the offshore drilling services provider’s stock valued at $4,900,000 after purchasing an additional 15,777 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Ensco Plc in the first quarter valued at about $158,000. Oregon Public Employees Retirement Fund boosted its holdings in Ensco Plc by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 105,654 shares of the offshore drilling services provider’s stock valued at $946,000 after purchasing an additional 1,500 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Ensco Plc by 1.1% in the first quarter. American Century Companies Inc. now owns 80,312 shares of the offshore drilling services provider’s stock valued at $719,000 after purchasing an additional 891 shares during the last quarter. 91.56% of the stock is owned by hedge funds and other 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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