Ensco (ESV) Debt Trading 1.4% Higher

An issue of Ensco Plc (NYSE:ESV) debt rose 1.4% against its 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 debt is now trading at $89.56 and was trading at $85.06 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.

Several equities research analysts have commented on the stock. Piper Jaffray Companies lowered shares of Ensco from an “overweight” rating to a “neutral” rating and set a $6.00 price target on the stock. in a research note on Thursday. Zacks Investment Research lowered shares of Ensco from a “hold” rating to a “sell” rating in a research note on Monday. Jefferies Group set a $6.00 price target on shares of Ensco and gave the company a “hold” rating in a research note on Thursday, January 4th. ValuEngine upgraded shares of Ensco from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, B. Riley reiterated a “neutral” rating on shares of Ensco in a research note on Wednesday, November 1st. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Ensco has a consensus rating of “Hold” and an average target price of $8.24.

Ensco Plc (ESV) opened at $7.12 on Thursday. Ensco Plc has a 12 month low of $4.10 and a 12 month high of $12.04. The company has a current ratio of 5.04, a quick ratio of 5.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $3,100.00, a P/E ratio of -30.96 and a beta of 1.82.

Ensco (NYSE:ESV) last posted its quarterly earnings data on Thursday, October 26th. The offshore drilling services provider reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.11. The business had revenue of $460.00 million for the quarter, compared to analyst estimates of $457.79 million. Ensco had a negative net margin of 3.04% and a negative return on equity of 0.37%. The business’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. research analysts expect that Ensco Plc will post -0.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 4th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, December 1st. Ensco’s payout ratio is -17.39%.

A number of large investors have recently modified their holdings of the stock. GeoSphere Capital Management bought a new stake in Ensco during the third quarter worth approximately $2,090,000. Neuberger Berman Group LLC boosted its holdings in Ensco by 13,356.8% during the third quarter. Neuberger Berman Group LLC now owns 1,910,733 shares of the offshore drilling services provider’s stock worth $11,407,000 after buying an additional 1,896,534 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Ensco by 16.2% during the third quarter. California Public Employees Retirement System now owns 1,247,939 shares of the offshore drilling services provider’s stock worth $7,450,000 after buying an additional 173,739 shares in the last quarter. Davidson Kempner Capital Management LP bought a new stake in Ensco during the third quarter worth approximately $11,995,000. Finally, Point72 Asset Management L.P. bought a new stake in Ensco during the third quarter worth approximately $7,822,000. Hedge funds and other institutional investors own 76.80% of the company’s stock.

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Ensco Company Profile

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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