Short Interest in Ensco Plc (ESV) Grows By 10.6%
Ensco Plc (NYSE:ESV) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 87,621,431 shares, an increase of 10.6% from the February 15th total of 79,251,064 shares. Based on an average daily trading volume, of 13,193,131 shares, the short-interest ratio is currently 6.6 days. Approximately 37.5% of the company’s stock are sold short.
Ensco (NYSE ESV) opened at $4.81 on Wednesday. The stock has a market capitalization of $2,100.00, a PE ratio of -6.25 and a beta of 1.88. Ensco has a twelve month low of $4.10 and a twelve month high of $9.50. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.54.
Ensco (NYSE:ESV) last issued its quarterly earnings data on Tuesday, February 27th. The offshore drilling services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.03. The company had revenue of $454.00 million for the quarter, compared to analyst estimates of $453.21 million. Ensco had a negative return on equity of 1.86% and a negative net margin of 16.48%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. sell-side analysts forecast that Ensco will post -0.98 EPS for the current year.
A number of analysts have weighed in on the company. Piper Jaffray Companies cut Ensco from an “overweight” rating to a “neutral” rating and set a $6.00 price target on the stock. in a research note on Thursday, January 11th. ValuEngine upgraded Ensco from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Jefferies Group set a $6.00 price target on Ensco and gave the company a “hold” rating in a research note on Thursday, January 4th. Credit Suisse Group cut Ensco from an “outperform” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Wells Fargo & Co cut their price target on Ensco from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. Ensco currently has an average rating of “Hold” and an average price target of $7.07.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. grew its holdings in shares of Ensco by 73.9% during the fourth quarter. Fairfield Bush & CO. now owns 507,736 shares of the offshore drilling services provider’s stock worth $3,001,000 after buying an additional 215,811 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Ensco by 42.7% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 131,120 shares of the offshore drilling services provider’s stock worth $775,000 after buying an additional 39,210 shares during the last quarter. HBK Sorce Advisory LLC purchased a new position in shares of Ensco during the fourth quarter worth about $214,000. Zeke Capital Advisors LLC purchased a new position in shares of Ensco during the fourth quarter worth about $142,000. Finally, LPL Financial LLC purchased a new position in shares of Ensco during the fourth quarter worth about $234,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
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Ensco 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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