An issue of Ensco Plc (NYSE:ESV) debt rose 1.5% as a percentage of its face value during trading on Monday. The debt issue has a 5.2% coupon and is set to mature on March 15, 2025. The debt is now trading at $86.78 and was trading at $87.00 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.
Several brokerages have issued reports on ESV. Scotiabank set a $13.00 target price on Ensco Plc and gave the company a “buy” rating in a research note on Wednesday, March 22nd. Evercore ISI boosted their price objective on Ensco Plc from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, March 3rd. Credit Suisse Group AG set a $15.00 price objective on Ensco Plc and gave the company a “buy” rating in a research note on Tuesday, February 28th. Jefferies Group LLC reiterated a “hold” rating and set a $11.00 price objective (down from $11.50) on shares of Ensco Plc in a research note on Tuesday, April 11th. Finally, Tudor Pickering began coverage on Ensco Plc in a research note on Thursday, March 23rd. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.30.
Shares of Ensco Plc (NYSE:ESV) opened at 7.62 on Wednesday. The company’s 50-day moving average price is $8.13 and its 200 day moving average price is $9.41. Ensco Plc has a one year low of $6.49 and a one year high of $12.04. The stock has a market capitalization of $2.31 billion, a PE ratio of 3.35 and a beta of 1.74.
Ensco Plc (NYSE:ESV) last released its quarterly earnings data on Thursday, April 27th. The offshore drilling services provider reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. The company had revenue of $471.10 million during the quarter, compared to the consensus estimate of $468.78 million. Ensco Plc had a negative net margin of 52.28% and a positive return on equity of 8.58%. Analysts anticipate that Ensco Plc will post ($0.26) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Monday, June 5th will be issued a $0.01 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.04 dividend on an annualized basis and a yield of 0.52%. Ensco Plc’s payout ratio is -0.53%.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Ensco Plc by 10,624.9% in the first quarter. BlackRock Inc. now owns 26,164,554 shares of the offshore drilling services provider’s stock worth $234,173,000 after buying an additional 25,920,593 shares during the last quarter. FMR LLC increased its stake in Ensco Plc by 969.0% in 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 increased its stake in Ensco Plc by 6.8% in the fourth quarter. State Street Corp now owns 13,190,556 shares of the offshore drilling services provider’s stock worth $128,208,000 after buying an additional 840,523 shares during the last quarter. Renaissance Technologies LLC increased its stake in Ensco Plc by 13.1% in the fourth quarter. Renaissance Technologies LLC now owns 10,559,160 shares of the offshore drilling services provider’s stock worth $102,635,000 after buying an additional 1,221,638 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Ensco Plc by 657.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,206,197 shares of the offshore drilling services provider’s stock worth $55,544,000 after buying an additional 5,387,049 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.
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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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