Ensco PLC (ESV) Stock Rating Upgraded by Zephirin Group
Ensco PLC (NYSE:ESV) was upgraded by research analysts at Zephirin Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $12.00 price target on the offshore drilling services provider’s stock. Zephirin Group’s target price points to a potential upside of 80.72% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. Howard Weil reiterated a “sector outperform” rating on shares of Ensco PLC in a research note on Thursday, September 15th. Scotiabank reiterated a “sector outperform” rating and set a $10.00 price objective on shares of Ensco PLC in a research note on Wednesday, September 14th. Scotia Howard Weill assumed coverage on Ensco PLC in a research note on Wednesday, September 14th. They set an “outperform” rating and a $10.00 price objective for the company. Citigroup Inc. lifted their price objective on Ensco PLC from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 25th. Finally, Nomura set a $6.00 price objective on Ensco PLC and gave the company a “sell” rating in a research note on Tuesday, August 16th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Ensco PLC presently has a consensus rating of “Hold” and a consensus price target of $11.92.
Shares of Ensco PLC (NYSE:ESV) opened at 6.64 on Monday. The stock’s market capitalization is $2.00 billion. Ensco PLC has a 52-week low of $6.49 and a 52-week high of $18.93. The company has a 50 day moving average price of $7.97 and a 200-day moving average price of $9.74.
Ensco PLC (NYSE:ESV) last released its quarterly earnings data on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $1.51. The business earned $910 million during the quarter, compared to analyst estimates of $746.55 million. Ensco PLC had a positive return on equity of 10.06% and a negative net margin of 39.67%. The company’s revenue was down 14.1% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. On average, analysts predict that Ensco PLC will post $1.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.60%. Ensco PLC’s dividend payout ratio (DPR) is -0.60%.
Several institutional investors have recently bought and sold shares of the company. Sigma Planning Corp acquired a new position in Ensco PLC during the second quarter valued at approximately $101,000. Shoker Investment Counsel Inc. increased its position in Ensco PLC by 1.1% in the second quarter. Shoker Investment Counsel Inc. now owns 10,496 shares of the offshore drilling services provider’s stock valued at $101,000 after buying an additional 111 shares during the period. Wealthsource Partners LLC acquired a new position in Ensco PLC during the second quarter valued at approximately $111,000. Eqis Capital Management Inc. acquired a new position in Ensco PLC during the second quarter valued at approximately $122,000. Finally, First Allied Advisory Services Inc. acquired a new position in Ensco PLC during the second quarter valued at approximately $129,000. Institutional investors and hedge funds own 85.81% of the company’s stock.
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. 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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