Ensco PLC (ESV) Earns Outperform Rating from Analysts at Scotia Howard Weill
Scotia Howard Weill assumed coverage on shares of Ensco PLC (NYSE:ESV) in a report published on Wednesday. The firm issued an outperform rating and a $10.00 price target on the offshore drilling services provider’s stock.
Several other equities research analysts also recently issued reports on ESV. Jefferies Group reiterated a hold rating on shares of Ensco PLC in a report on Sunday, July 10th. JPMorgan Chase & Co. restated an underweight rating on shares of Ensco PLC in a research note on Friday, May 20th. Johnson Rice upgraded Ensco PLC from a hold rating to an accumulate rating in a research note on Monday, June 13th. Zacks Investment Research downgraded Ensco PLC from a hold rating to a strong sell rating in a research note on Monday, July 18th. Finally, Bank of America Corp. started coverage on Ensco PLC in a research note on Monday, June 13th. They issued an underperform rating and a $9.00 price objective for the company. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Ensco PLC currently has an average rating of Hold and an average price target of $11.92.
Ensco PLC (NYSE:ESV) opened at 6.87 on Wednesday. Ensco PLC has a 12 month low of $6.67 and a 12 month high of $18.93. The company’s market cap is $2.07 billion. The company has a 50 day moving average price of $8.26 and a 200-day moving average price of $9.86.
Ensco PLC (NYSE:ESV) last announced its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $1.51. Ensco PLC had a positive return on equity of 10.06% and a negative net margin of 39.67%. The business earned $910 million during the quarter, compared to the consensus estimate of $746.55 million. During the same quarter in the prior year, the company posted $1.11 earnings per share. Ensco PLC’s revenue was down 14.1% compared to the same quarter last year. Equities analysts predict that Ensco PLC will post $1.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.04 annualized dividend and a yield of 0.58%. Ensco PLC’s payout ratio is -0.60%.
A number of institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Ensco PLC during the fourth quarter valued at about $44,067,000. Brookstone Capital Management bought a new position in Ensco PLC during the first quarter valued at about $2,752,000. Texas Permanent School Fund raised its position in Ensco PLC by 186.1% in the first quarter. Texas Permanent School Fund now owns 236,843 shares of the offshore drilling services provider’s stock valued at $2,456,000 after buying an additional 154,060 shares during the last quarter. Virginia Retirement System bought a new position in Ensco PLC during the first quarter valued at about $990,000. Finally, ICM Asset Management Inc. WA bought a new position in Ensco PLC during the first quarter valued at about $1,371,000. Institutional investors and hedge funds own 85.81% 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. The Company’s segments include Floaters, Jackups and Other. Its Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling.
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