Ensco Plc (ESV) Bonds Trading 0.8% Higher
An issue of Ensco Plc (NYSE:ESV) bonds rose 0.8% against their face value during trading on Tuesday. The high-yield issue of debt has a 4.5% coupon and will mature on October 1, 2024. The bonds in the issue are now trading at $74.75 and were trading at $71.00 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
A number of research firms have recently commented on ESV. ValuEngine upgraded Ensco Plc from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BMO Capital Markets upped their price objective on Ensco Plc from $4.75 to $5.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and set a $6.00 price objective (down from $9.00) on shares of Ensco Plc in a report on Tuesday, July 18th. Seaport Global Securities restated a “sell” rating on shares of Ensco Plc in a report on Wednesday, July 12th. Finally, Bank of America Corporation downgraded Ensco Plc from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $7.00 to $5.00 in a report on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.85.
Shares of Ensco Plc (NYSE:ESV) traded down 2.16% during midday trading on Thursday, hitting $4.54. 5,938,589 shares of the company’s stock traded hands. Ensco Plc has a 1-year low of $4.10 and a 1-year high of $12.04. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 28.38 and a beta of 1.65. The company has a 50 day moving average price of $4.81 and a 200 day moving average price of $6.83.
Ensco Plc (NYSE:ESV) last announced its earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. Ensco Plc had a net margin of 2.68% and a return on equity of 0.77%. The company had revenue of $457.50 million during the quarter, compared to the consensus estimate of $453.48 million. During the same period in the previous year, the firm posted $2.04 earnings per share. The company’s revenue was down 49.7% on a year-over-year basis. Equities analysts anticipate that Ensco Plc will post ($0.38) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Monday, September 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, September 8th. Ensco Plc’s dividend payout ratio (DPR) is 23.53%.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Ensco Plc by 25.3% during the second quarter. BlackRock Inc. now owns 32,777,289 shares of the offshore drilling services provider’s stock worth $169,130,000 after buying an additional 6,612,735 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ensco Plc by 170.3% during the second quarter. Dimensional Fund Advisors LP now owns 16,775,071 shares of the offshore drilling services provider’s stock worth $86,564,000 after buying an additional 10,568,874 shares during the last quarter. FMR LLC raised its stake in shares of Ensco Plc by 969.0% during the first quarter. FMR LLC now owns 14,705,005 shares of the offshore drilling services provider’s stock worth $131,610,000 after buying an additional 13,329,369 shares during the last quarter. State Street Corp raised its stake in shares of Ensco Plc by 1.6% during the second quarter. State Street Corp now owns 12,112,020 shares of the offshore drilling services provider’s stock worth $62,497,000 after buying an additional 192,165 shares during the last quarter. Finally, Capital Guardian Trust Co. raised its stake in shares of Ensco Plc by 189.3% during the second quarter. Capital Guardian Trust Co. now owns 10,637,145 shares of the offshore drilling services provider’s stock worth $54,888,000 after buying an additional 6,960,500 shares during the last quarter. 91.56% of the stock is owned by institutional investors and hedge funds.
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About Ensco Plc
Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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