Zacks: Brokerages Anticipate Ensco Plc (ESV) Will Post Quarterly Sales of $455.80 Million
Brokerages expect that Ensco Plc (NYSE:ESV) will post $455.80 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Ensco’s earnings, with estimates ranging from $446.90 million to $470.30 million. Ensco posted sales of $504.60 million in the same quarter last year, which suggests a negative year over year growth rate of 9.7%. The company is expected to issue its next earnings report on Monday, February 26th.
According to Zacks, analysts expect that Ensco will report full-year sales of $455.80 million for the current financial year, with estimates ranging from $1.82 billion to $1.85 billion. For the next financial year, analysts expect that the company will post sales of $1.86 billion per share, with estimates ranging from $1.65 billion to $1.97 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Ensco.
Ensco (NYSE:ESV) last issued its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.11. Ensco had a negative net margin of 6.08% and a negative return on equity of 1.24%. The company had revenue of $460.00 million for the quarter, compared to analysts’ expectations of $457.79 million. During the same quarter last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was down 16.1% on a year-over-year basis.
Several research analysts have weighed in on ESV shares. FBR & Co decreased their price target on shares of Ensco from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Nordea Equity Research reiterated a “buy” rating and issued a $8.00 price target on shares of Ensco in a research report on Saturday, September 30th. Zacks Investment Research downgraded shares of Ensco from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Deutsche Bank started coverage on shares of Ensco in a research report on Tuesday, October 10th. They set a “hold” rating and a $6.00 price objective on the stock. Finally, ValuEngine upgraded shares of Ensco from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $8.47.
Shares of Ensco (NYSE ESV) opened at $5.25 on Wednesday. Ensco has a fifty-two week low of $4.10 and a fifty-two week high of $12.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 5.04 and a quick ratio of 5.04.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be issued a $0.01 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.04 dividend on an annualized basis and a yield of 0.76%. Ensco’s dividend payout ratio is currently -17.39%.
A number of hedge funds and other institutional investors have recently made changes to their positions in ESV. Private Advisor Group LLC bought a new stake in Ensco in the 3rd quarter valued at $100,000. GWM Advisors LLC bought a new stake in Ensco in the 2nd quarter valued at $107,000. Raymond James Financial Services Advisors Inc. bought a new stake in Ensco in the 2nd quarter valued at $116,000. Harvest Management LLC bought a new stake in Ensco in the 3rd quarter valued at $119,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Ensco in the 3rd quarter valued at $121,000. Institutional investors own 76.90% of the company’s stock.
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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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