Piper Jaffray Companies Downgrades Ensco (ESV) to Neutral
Piper Jaffray Companies cut shares of Ensco (NYSE:ESV) from an overweight rating to a neutral rating in a research report released on Thursday, MarketBeat reports. Piper Jaffray Companies currently has $6.00 price target on the offshore drilling services provider’s stock.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Ensco from a hold rating to a sell rating in a report on Monday, January 8th. Jefferies Group set a $6.00 price objective on Ensco and gave the stock a hold rating in a report on Thursday, January 4th. ValuEngine upgraded Ensco from a sell rating to a hold rating in a report on Friday, December 1st. B. Riley restated a neutral rating on shares of Ensco in a report on Wednesday, November 1st. Finally, FBR & Co reduced their price objective on Ensco from $9.00 to $6.00 and set a neutral rating on the stock in a report on Friday, October 27th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $7.91.
Ensco (NYSE ESV) traded up $0.07 on Thursday, reaching $7.43. The company’s stock had a trading volume of 10,600,832 shares, compared to its average volume of 12,670,000. The stock has a market cap of $3,240.00, a P/E ratio of -32.30 and a beta of 1.82. Ensco has a one year low of $4.10 and a one year high of $12.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 5.04 and a quick ratio of 5.04.
Ensco (NYSE:ESV) last released its quarterly earnings data on Thursday, October 26th. The offshore drilling services provider reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.11. The company had revenue of $460.00 million for the quarter, compared to the consensus estimate of $457.79 million. Ensco had a negative return on equity of 0.37% and a negative net margin of 3.04%. Ensco’s quarterly revenue was down 16.1% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. equities analysts anticipate that Ensco will post -0.51 EPS for the current year.
Several large investors have recently made changes to their positions in ESV. Schwab Charles Investment Management Inc. increased its holdings in shares of Ensco by 29.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,692,842 shares of the offshore drilling services provider’s stock valued at $8,736,000 after acquiring an additional 387,292 shares during the period. Comerica Bank increased its holdings in shares of Ensco by 0.3% in the 2nd quarter. Comerica Bank now owns 259,039 shares of the offshore drilling services provider’s stock valued at $1,386,000 after acquiring an additional 764 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Ensco by 4.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,297,529 shares of the offshore drilling services provider’s stock valued at $6,696,000 after acquiring an additional 58,893 shares during the period. Swiss National Bank increased its holdings in shares of Ensco by 2.4% in the 2nd quarter. Swiss National Bank now owns 511,638 shares of the offshore drilling services provider’s stock valued at $2,640,000 after acquiring an additional 12,200 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Ensco by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,676 shares of the offshore drilling services provider’s stock valued at $246,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 76.80% of the company’s stock.
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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