Cowen reissued their hold rating on shares of Ensco (NYSE:ESV) in a research report sent to investors on Monday morning. The firm currently has a $5.00 target price on the offshore drilling services provider’s stock.
A number of other research analysts also recently commented on the company. ValuEngine upgraded Ensco from a buy rating to a strong-buy rating in a research report on Tuesday, September 4th. Piper Jaffray Companies reiterated a hold rating and set a $9.00 target price on shares of Ensco in a research report on Tuesday, October 9th. Societe Generale upgraded Ensco from a hold rating to a buy rating in a research report on Friday, October 12th. BTIG Research initiated coverage on Ensco in a research report on Monday, September 17th. They set a buy rating and a $10.00 target price for the company. Finally, Wells Fargo & Co upgraded Ensco from a market perform rating to an outperform rating and set a $11.00 target price for the company in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $8.74.
NYSE ESV opened at $5.15 on Monday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.54 billion, a PE ratio of -9.90 and a beta of 1.78. Ensco has a one year low of $4.10 and a one year high of $9.51.
Ensco (NYSE:ESV) last posted its earnings results on Monday, October 29th. The offshore drilling services provider reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.02. The firm had revenue of $431.00 million during the quarter, compared to the consensus estimate of $424.66 million. Ensco had a negative return on equity of 5.98% and a negative net margin of 36.53%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. On average, sell-side analysts expect that Ensco will post -1.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Monday, December 3rd will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, November 30th. This represents a $0.04 annualized dividend and a yield of 0.78%. Ensco’s payout ratio is presently -7.69%.
In related news, VP Steven Joseph Brady sold 4,500 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $6.22, for a total transaction of $27,990.00. Following the sale, the vice president now owns 314,864 shares in the company, valued at approximately $1,958,454.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ESV. Vanguard Group Inc. increased its stake in Ensco by 0.9% in the third quarter. Vanguard Group Inc. now owns 38,680,474 shares of the offshore drilling services provider’s stock worth $326,463,000 after purchasing an additional 336,835 shares during the period. Key Square Capital Management LLC purchased a new stake in Ensco in the third quarter worth $1,940,000. Kentucky Retirement Systems purchased a new stake in Ensco in the third quarter worth $1,103,000. Knowledge Leaders Capital LLC purchased a new stake in Ensco in the third quarter worth $2,439,000. Finally, Willis Investment Counsel increased its stake in 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 during the period. Institutional investors own 96.71% of the company’s stock.
Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. It operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet of 65 rigs, including 32 located in the Middle East, Africa, and the Asia Pacific, which comprise 3 rigs under construction; 14 located in North and South America, such as Brazil; and 19 located in Europe and the Mediterranean.
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