Ensco (ESV) Bonds Rise 1.8% During Trading

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An issue of Ensco Plc (NYSE:ESV) debt rose 1.8% against its face value during trading on Tuesday. The debt issue has a 5.75% coupon and will mature on October 1, 2044. The debt is now trading at $64.81 and was trading at $62.00 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.

Several analysts have recently commented on the stock. HSBC upgraded shares of Ensco from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Friday, March 8th. B. Riley lowered their target price on shares of Ensco from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. ValuEngine downgraded shares of Ensco from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Wells Fargo & Co restated a “buy” rating on shares of Ensco in a report on Friday, March 1st. Finally, Barclays set a $5.00 price objective on shares of Ensco and gave the stock a “sell” rating in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. Ensco currently has an average rating of “Hold” and a consensus price target of $7.33.

NYSE ESV traded down $0.10 during trading hours on Tuesday, reaching $4.38. 7,212,917 shares of the company were exchanged, compared to its average volume of 11,613,454. Ensco Plc has a 1 year low of $3.19 and a 1 year high of $9.51. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 2.48. The company has a market capitalization of $1.96 billion, a PE ratio of -3.27 and a beta of 2.17.

Ensco (NYSE:ESV) last posted its quarterly earnings data on Thursday, February 28th. The offshore drilling services provider reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). Ensco had a negative return on equity of 6.95% and a negative net margin of 37.51%. The company had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $404.69 million. During the same quarter last year, the business posted ($0.23) EPS. The business’s quarterly revenue was down 12.1% on a year-over-year basis. As a group, analysts forecast that Ensco Plc will post -1.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Monday, March 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.91%. Ensco’s dividend payout ratio (DPR) is presently -2.99%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Willis Investment Counsel increased its stake in shares of Ensco by 1.6% in the third quarter. Willis Investment Counsel now owns 1,190,620 shares of the offshore drilling services provider’s stock worth $10,049,000 after purchasing an additional 19,235 shares in the last quarter. Capital International Investors increased its stake in shares of Ensco by 4.4% in the third quarter. Capital International Investors now owns 20,147,782 shares of the offshore drilling services provider’s stock worth $170,047,000 after purchasing an additional 846,997 shares in the last quarter. Hosking Partners LLP increased its stake in shares of Ensco by 8.6% in the fourth quarter. Hosking Partners LLP now owns 2,528,562 shares of the offshore drilling services provider’s stock worth $9,002,000 after purchasing an additional 200,387 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Ensco by 459.5% in the third quarter. Tower Research Capital LLC TRC now owns 56,366 shares of the offshore drilling services provider’s stock worth $476,000 after purchasing an additional 46,292 shares in the last quarter. Finally, Capital Guardian Trust Co. increased its stake in shares of Ensco by 6.7% in the third quarter. Capital Guardian Trust Co. now owns 14,829,552 shares of the offshore drilling services provider’s stock worth $125,161,000 after purchasing an additional 935,572 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

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Ensco Company Profile (NYSE:ESV)

Ensco Plc engages in the provision of offshore contract drilling services to the international oil and gas industry. It operates its business through the following segments: Floaters, Jackups, and Others. The Floaters segment includes drill ships and semisubmersible rigs. The Jackups segment offers contract drilling service.

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