Ensco Plc (NYSE:ESV) has been assigned an average rating of “Hold” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.00.
Several research analysts recently weighed in on the company. Citigroup assumed coverage on Ensco in a research report on Thursday, April 11th. They issued a “neutral” rating on the stock. ValuEngine lowered Ensco from a “hold” rating to a “sell” rating in a research report on Wednesday. Morgan Stanley assumed coverage on Ensco in a research report on Tuesday, April 16th. They issued an “overweight” rating and a $25.00 target price on the stock. B. Riley cut their target price on Ensco from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Finally, Piper Jaffray Companies set a $16.00 target price on Ensco and gave the stock a “hold” rating in a research report on Tuesday, April 23rd.
Shares of ESV traded down $0.89 during trading hours on Thursday, hitting $12.34. The stock had a trading volume of 279,330 shares, compared to its average volume of 5,781,235. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.53 billion, a P/E ratio of -2.31 and a beta of 2.09. Ensco has a 12-month low of $12.76 and a 12-month high of $38.04.
Ensco (NYSE:ESV) last issued its earnings results on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) earnings per share for the quarter, topping the consensus estimate of ($1.79) by $0.10. The business had revenue of $405.90 million for the quarter, compared to analyst estimates of $405.12 million. Ensco had a negative return on equity of 6.95% and a negative net margin of 37.51%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted ($0.32) EPS. Sell-side analysts predict that Ensco will post -5.94 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in ESV. Bank of New York Mellon Corp raised its position 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. The Manufacturers Life Insurance Company raised its position in Ensco by 4.5% in the third quarter. The Manufacturers Life Insurance Company now owns 714,660 shares of the offshore drilling services provider’s stock valued at $6,031,000 after purchasing an additional 31,032 shares during the period. Verition Fund Management LLC purchased a new position in Ensco in the third quarter valued at about $386,000. Kentucky Retirement Systems acquired a new stake in shares of Ensco during the third quarter valued at about $1,103,000. Finally, Key Square Capital Management LLC acquired a new stake in shares of Ensco during the third quarter valued at about $1,940,000.
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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