Ensco PLC (ESV) Given Sector Outperform Rating at Scotiabank
Scotiabank restated their sector outperform rating on shares of Ensco PLC (NYSE:ESV) in a report issued on Wednesday. Scotiabank currently has a $10.00 price target on the offshore drilling services provider’s stock.
Several other equities research analysts have also commented on ESV. JPMorgan Chase & Co. reissued an underweight rating on shares of Ensco PLC in a report on Friday, May 20th. Bank of America Corp. began coverage on shares of Ensco PLC in a report on Monday, June 13th. They set an underperform rating and a $9.00 target price for the company. Johnson Rice raised shares of Ensco PLC from a hold rating to an accumulate rating in a report on Monday, June 13th. Susquehanna raised shares of Ensco PLC from a negative rating to a neutral rating in a report on Tuesday, June 28th. Finally, Evercore ISI reaffirmed a buy rating on shares of Ensco PLC in a report on Wednesday, June 29th. Eight equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Ensco PLC has an average rating of Hold and a consensus target price of $11.92.
Ensco PLC (NYSE:ESV) opened at 6.74 on Wednesday. Ensco PLC has a 1-year low of $6.67 and a 1-year high of $18.93. The company has a 50-day moving average of $8.02 and a 200 day moving average of $9.78. The stock’s market cap is $2.03 billion.
Ensco PLC (NYSE:ESV) last issued its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 EPS for the quarter, topping the consensus estimate of $0.53 by $1.51. The company earned $910 million during the quarter, compared to analyst estimates of $746.55 million. Ensco PLC had a negative net margin of 39.67% and a positive return on equity of 10.06%. The firm’s revenue was down 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. Analysts predict that Ensco PLC will post $1.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders 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 dividend yield of 0.59%. Ensco PLC’s dividend payout ratio is presently -0.60%.
Several hedge funds have recently modified their holdings of ESV. Adage Capital Partners GP L.L.C. boosted its stake in shares of Ensco PLC by 1.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,221,454 shares of the offshore drilling services provider’s stock valued at $54,146,000 after buying an additional 96,400 shares in the last quarter. Springbok Capital Management LLC boosted its stake in shares of Ensco PLC by 175.6% in the first quarter. Springbok Capital Management LLC now owns 25,150 shares of the offshore drilling services provider’s stock valued at $261,000 after buying an additional 16,026 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Ensco PLC by 78.9% in the first quarter. Prudential Financial Inc. now owns 8,143,320 shares of the offshore drilling services provider’s stock valued at $84,446,000 after buying an additional 3,592,260 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Ensco PLC by 108.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,200,610 shares of the offshore drilling services provider’s stock valued at $12,450,000 after buying an additional 625,996 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Ensco PLC during the fourth quarter valued at about $44,067,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.
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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