Ensco Plc (ESV) Bond Prices Fall 0.8%
An issue of Ensco Plc (NYSE:ESV) debt fell 0.8% against its face value during trading on Thursday. The high-yield debt issue has a 5.2% coupon and is set to mature on March 15, 2025. The debt is now trading at $84.50 and was trading at $84.00 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
Several research firms have recently issued reports on ESV. Jefferies Group LLC set a $9.00 price target on Ensco Plc and gave the stock a “hold” rating in a research note on Saturday, July 1st. Seaport Global Securities reissued a “sell” rating on shares of Ensco Plc in a research note on Wednesday, July 12th. HSBC Holdings plc began coverage on Ensco Plc in a research note on Thursday. They issued a “buy” rating and a $7.30 price target for the company. BMO Capital Markets reissued a “hold” rating and issued a $4.75 price target on shares of Ensco Plc in a research note on Tuesday, July 11th. Finally, ValuEngine raised Ensco Plc from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Ensco Plc has a consensus rating of “Hold” and an average price target of $8.73.
Ensco Plc (NYSE:ESV) traded down 3.40% on Friday, reaching $5.12. The company had a trading volume of 22,032,098 shares. Ensco Plc has a 12 month low of $4.10 and a 12 month high of $12.04. The firm has a 50 day moving average price of $5.33 and a 200-day moving average price of $6.01. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 32.00 and a beta of 1.75.
Ensco Plc (NYSE:ESV) last posted 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. The firm 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 revenue for the quarter was down 49.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 earnings per share. Analysts forecast that Ensco Plc will post ($0.38) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Monday, September 11th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, September 8th. This represents a $0.04 annualized dividend and a yield of 0.78%. Ensco Plc’s dividend payout ratio is presently 23.53%.
Hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. lifted its holdings in Ensco Plc by 50.0% during 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 acquiring an additional 5,800 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in Ensco Plc by 2.3% during the first quarter. Neuberger Berman Group LLC now owns 19,304 shares of the offshore drilling services provider’s stock worth $173,000 after acquiring an additional 436 shares in the last quarter. GWM Advisors LLC bought a new position in Ensco Plc during the second quarter worth about $107,000. Raymond James Financial Services Advisors Inc. bought a new position in Ensco Plc during the second quarter worth about $116,000. Finally, HighTower Advisors LLC lifted its holdings in Ensco Plc by 2.2% during the first quarter. HighTower Advisors LLC now owns 23,177 shares of the offshore drilling services provider’s stock worth $209,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 91.56% of the company’s stock.
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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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