Ensco (ESV) Bonds Trading 3.1% Higher

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An issue of Ensco Plc (NYSE:ESV) bonds rose 3.1% as a percentage of their face value during trading on Friday. The high-yield issue of debt has a 7.75% coupon and will mature on February 1, 2026. The debt is now trading at $87.38 and was trading at $82.25 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.

A number of equities analysts have issued reports on ESV shares. Cowen restated a “hold” rating and set a $5.00 target price on shares of Ensco in a research report on Monday, December 3rd. Wells Fargo & Co restated a “buy” rating on shares of Ensco in a research report on Tuesday, December 11th. ValuEngine cut shares of Ensco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 15th. Societe Generale cut shares of Ensco from a “buy” rating to a “hold” rating and set a $3.60 target price for the company. in a research report on Wednesday, December 19th. Finally, BTIG Research cut their target price on shares of Ensco from $18.00 to $14.00 and set an “average” rating for the company in a research report on Thursday, December 20th. One 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. The company currently has an average rating of “Hold” and an average price target of $7.33.

Shares of NYSE:ESV traded down $0.19 during trading on Friday, reaching $4.23. The stock had a trading volume of 9,622,169 shares, compared to its average volume of 11,492,243. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.48 and a quick ratio of 2.48. The firm has a market cap of $1.88 billion, a PE ratio of -3.16 and a beta of 2.17. Ensco Plc has a fifty-two week low of $3.19 and a fifty-two week high of $9.51.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Monday, March 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, March 8th. Ensco’s dividend payout ratio is presently -2.99%.

Several large investors have recently bought and sold shares of ESV. Russell Investments Group Ltd. grew its holdings in Ensco by 118.4% in the third quarter. Russell Investments Group Ltd. now owns 129,257 shares of the offshore drilling services provider’s stock valued at $1,092,000 after purchasing an additional 70,077 shares during the period. Wells Fargo & Company MN grew its holdings in Ensco by 248.4% in the third quarter. Wells Fargo & Company MN now owns 630,479 shares of the offshore drilling services provider’s stock valued at $5,322,000 after purchasing an additional 449,514 shares during the period. SG Americas Securities LLC grew its holdings in Ensco by 126.2% in the third quarter. SG Americas Securities LLC now owns 147,967 shares of the offshore drilling services provider’s stock valued at $1,249,000 after purchasing an additional 82,549 shares during the period. Keybank National Association OH purchased a new stake in Ensco in the third quarter valued at approximately $570,000. Finally, Bank of New York Mellon Corp grew its holdings in Ensco by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 5,788,929 shares of the offshore drilling services provider’s stock valued at $48,858,000 after purchasing an additional 108,476 shares during the period. 98.33% of the stock is owned by institutional investors and hedge funds.

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About Ensco (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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