Ensco PLC (ESV) Stock Rating Upgraded by Zephirin Group
Ensco PLC (NYSE:ESV) was upgraded by investment analysts at Zephirin Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $12.00 target price on the offshore drilling services provider’s stock. Zephirin Group’s target price indicates a potential upside of 80.72% from the stock’s current price.
Other analysts have also recently issued research reports about the company. Jefferies Group reissued a “hold” rating on shares of Ensco PLC in a report on Sunday, July 10th. Zacks Investment Research raised Ensco PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Bank of America Corp. began coverage on Ensco PLC in a report on Monday, June 13th. They set an “underperform” rating and a $9.00 price objective on the stock. Johnson Rice raised Ensco PLC from a “hold” rating to an “accumulate” rating in a report on Monday, June 13th. Finally, Evercore ISI reissued a “buy” rating on shares of Ensco PLC in a report on Wednesday, June 29th. Eight equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Ensco PLC currently has an average rating of “Hold” and a consensus target price of $11.92.
Shares of Ensco PLC (NYSE:ESV) opened at 6.64 on Monday. The company’s market capitalization is $2.00 billion. The stock’s 50 day moving average price is $7.97 and its 200 day moving average price is $9.74. Ensco PLC has a 12-month low of $6.49 and a 12-month high of $18.93.
Ensco PLC (NYSE:ESV) last issued its quarterly earnings data on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $1.51. The business had revenue of $910 million for the quarter, compared to analysts’ expectations of $746.55 million. Ensco PLC had a positive return on equity of 10.06% and a negative net margin of 39.67%. The firm’s quarterly revenue was down 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 EPS. On average, equities research analysts forecast that Ensco PLC will post $1.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.60%. Ensco PLC’s dividend payout ratio is presently -0.60%.
Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Ensco PLC during the fourth quarter worth about $44,067,000. Texas Permanent School Fund boosted its position in shares of Ensco PLC by 186.1% in the first quarter. Texas Permanent School Fund now owns 236,843 shares of the offshore drilling services provider’s stock worth $2,456,000 after buying an additional 154,060 shares during the last quarter. Virginia Retirement System bought a new position in shares of Ensco PLC during the first quarter worth about $990,000. ICM Asset Management Inc. WA bought a new position in shares of Ensco PLC during the first quarter worth about $1,371,000. Finally, Check Capital Management Inc. CA boosted its position in shares of Ensco PLC by 13.6% in the first quarter. Check Capital Management Inc. CA now owns 25,935 shares of the offshore drilling services provider’s stock worth $269,000 after buying an additional 3,100 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.
Ensco PLC Company Profile
Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company’s segments include Floaters, Jackups and Other. Its Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling.
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