Ensco Plc (ESV) Now Covered by Analysts at HSBC Holdings plc
HSBC Holdings plc assumed coverage on shares of Ensco Plc (NYSE:ESV) in a report issued on Thursday morning. The brokerage issued a buy rating and a $7.30 price objective on the offshore drilling services provider’s stock.
Several other research analysts have also recently weighed in on ESV. Seaport Global Securities cut Ensco Plc from a neutral rating to a sell rating and decreased their target price for the company from $6.50 to $4.00 in a research note on Wednesday, June 21st. BidaskClub cut Ensco Plc from a sell rating to a strong sell rating in a research note on Thursday, June 22nd. Bank of America Corporation cut Ensco Plc from a neutral rating to an underperform rating and decreased their target price for the company from $7.00 to $5.00 in a research note on Friday, June 30th. Jefferies Group LLC set a $9.00 target price on Ensco Plc and gave the company a hold rating in a research note on Saturday, July 1st. Finally, BMO Capital Markets reaffirmed a hold rating and set a $4.75 target price on shares of Ensco Plc in a research note on Tuesday, July 11th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $8.73.
Ensco Plc (NYSE:ESV) traded down 3.40% on Thursday, hitting $5.12. The stock had a trading volume of 22,032,098 shares. The company has a market cap of $1.56 billion, a PE ratio of 32.00 and a beta of 1.75. Ensco Plc has a one year low of $4.10 and a one year high of $12.04. The stock has a 50-day moving average of $5.33 and a 200-day moving average of $6.01.
Ensco Plc (NYSE:ESV) last announced its earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. Ensco Plc had a return on equity of 0.77% and a net margin of 2.68%. The business had revenue of $457.50 million during the quarter, compared to analysts’ expectations of $453.48 million. During the same quarter last year, the business posted $2.04 earnings per share. The company’s quarterly revenue was down 49.7% on a year-over-year basis. Equities analysts expect that Ensco Plc will post ($0.38) earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Monday, September 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, September 8th. Ensco Plc’s dividend payout ratio is currently 23.53%.
Institutional investors have recently made changes to their positions in the stock. GWM Advisors LLC purchased a new stake in Ensco Plc in the 2nd quarter worth about $107,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Ensco Plc in the 2nd quarter worth about $116,000. Riverhead Capital Management LLC lifted its stake in Ensco Plc by 94.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 23,905 shares of the offshore drilling services provider’s stock worth $123,000 after acquiring an additional 11,605 shares in the last quarter. Hellman Jordan Management Co. Inc. MA purchased a new stake in Ensco Plc in the 2nd quarter worth about $126,000. Finally, LS Investment Advisors LLC lifted its stake in Ensco Plc by 19.5% in the 2nd quarter. LS Investment Advisors LLC now owns 24,804 shares of the offshore drilling services provider’s stock worth $128,000 after acquiring an additional 4,039 shares in the last quarter. 91.56% of the stock is owned by hedge funds and other institutional investors.
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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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