Ensco PLC (NYSE:ESV) posted its earnings results on Wednesday. The offshore drilling services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $1.51. During the same period last year, the business posted $1.11 earnings per share. The business earned $910 million during the quarter, compared to analysts’ expectations of $746.55 million. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year.
A number of research analysts recently weighed in on ESV shares. Johnson Rice raised shares of Ensco PLC from a “hold” rating to an “accumulate” rating in a report on Monday, June 13th. Evercore ISI reissued a “buy” rating on shares of Ensco PLC in a report on Wednesday, June 29th. Morgan Stanley raised shares of Ensco PLC from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $10.00 to $14.00 in a report on Friday, April 15th. Zephirin Group reaffirmed a “hold” rating and set a $12.00 price objective on shares of Ensco PLC in a research note on Thursday, May 5th. Finally, Zacks Investment Research lowered shares of Ensco PLC from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. Nine investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.80.
Shares of Ensco PLC (NYSE:ESV) traded down 4.77% during midday trading on Wednesday, reaching $8.78. The company had a trading volume of 7,721,274 shares. Ensco PLC has a 52-week low of $7.25 and a 52-week high of $18.93. The stock’s market capitalization is $2.07 billion. The company’s 50 day moving average price is $10.07 and its 200 day moving average price is $10.10.
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.
