Ensco (ESV) Debt Trading 1.3% Higher
An issue of Ensco Plc (NYSE:ESV) bonds rose 1.3% against their face value during trading on Wednesday. The high-yield debt issue has a 5.75% coupon and will mature on October 1, 2044. The debt is now trading at $74.75 and was trading at $71.38 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
Several research firms have recently commented on ESV. Zacks Investment Research lowered shares of Ensco from a “hold” rating to a “sell” rating in a research report on Monday. Jefferies Group set a $6.00 price target on shares of Ensco and gave the stock a “hold” rating in a research report on Thursday, January 4th. ValuEngine upgraded shares of Ensco from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. B. Riley restated a “neutral” rating on shares of Ensco in a research report on Wednesday, November 1st. Finally, FBR & Co lowered their price target on shares of Ensco from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.24.
Shares of Ensco Plc (ESV) opened at $7.12 on Thursday. Ensco Plc has a 1-year low of $4.10 and a 1-year high of $12.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 5.04 and a quick ratio of 5.04. The firm has a market cap of $3,100.00, a PE ratio of -30.96 and a beta of 1.82.
Ensco (NYSE:ESV) last posted its quarterly earnings data on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.11. The firm had revenue of $460.00 million for the quarter, compared to the consensus estimate of $457.79 million. Ensco had a negative return on equity of 0.37% and a negative net margin of 3.04%. The business’s revenue for the quarter was down 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. equities research analysts anticipate that Ensco Plc will post -0.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Monday, December 4th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, December 1st. This represents a $0.04 annualized dividend and a yield of 0.56%. Ensco’s payout ratio is presently -17.39%.
A number of hedge funds and other institutional investors have recently bought and sold shares of ESV. Schwab Charles Investment Management Inc. raised its holdings in Ensco by 29.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,692,842 shares of the offshore drilling services provider’s stock worth $8,736,000 after buying an additional 387,292 shares during the period. Comerica Bank raised its holdings in Ensco by 0.3% during the 2nd quarter. Comerica Bank now owns 259,039 shares of the offshore drilling services provider’s stock worth $1,386,000 after buying an additional 764 shares during the period. Principal Financial Group Inc. raised its holdings in Ensco by 4.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,297,529 shares of the offshore drilling services provider’s stock worth $6,696,000 after buying an additional 58,893 shares during the period. Swiss National Bank increased its holdings in shares of Ensco by 2.4% in the 2nd quarter. Swiss National Bank now owns 511,638 shares of the offshore drilling services provider’s stock valued at $2,640,000 after purchasing an additional 12,200 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Ensco by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,676 shares of the offshore drilling services provider’s stock valued at $246,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 76.80% of the company’s stock.
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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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