Goldman Sachs Group, Inc. (The) initiated coverage on shares of ENSCO PLC (NYSE:ESV) in a research note released on Friday. The firm issued a buy rating and a $8.00 price objective on the offshore drilling services provider’s stock.
Other equities research analysts also recently issued reports about the company. Piper Jaffray Companies upgraded ENSCO PLC from a neutral rating to an overweight rating and cut their price target for the company from $9.20 to $8.00 in a research note on Monday, June 19th. ValuEngine raised ENSCO PLC from a sell rating to a hold rating in a research report on Friday, September 1st. Bank of America Corporation cut ENSCO PLC from a neutral rating to an underperform rating and lowered their price objective for the company from $7.00 to $5.00 in a research report on Friday, June 30th. Seaport Global Securities reissued a sell rating on shares of ENSCO PLC in a report on Wednesday, July 12th. Finally, BMO Capital Markets boosted their price target on ENSCO PLC from $4.75 to $5.00 and gave the stock a market perform rating in a report on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $9.09.
Shares of ENSCO PLC (NYSE:ESV) opened at 5.66 on Friday. The firm’s 50-day moving average is $5.21 and its 200-day moving average is $6.09. ENSCO PLC has a 52 week low of $4.10 and a 52 week high of $12.04. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 35.38 and a beta of 1.74.
ENSCO PLC (NYSE:ESV) last issued its quarterly earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. ENSCO PLC had a return on equity of 0.77% and a net margin of 2.68%. The firm had revenue of $457.50 million during the quarter, compared to the consensus estimate of $453.48 million. During the same period last year, the company earned $2.04 earnings per share. The company’s revenue was down 49.7% on a year-over-year basis. Equities research analysts predict that ENSCO PLC will post ($0.40) earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Monday, September 11th were paid a $0.01 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.71%. ENSCO PLC’s payout ratio is presently 23.53%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GWM Advisors LLC acquired a new position in ENSCO PLC during the 2nd quarter worth $107,000. Raymond James Financial Services Advisors Inc. purchased a new stake in ENSCO PLC during the 2nd quarter worth about $116,000. Riverhead Capital Management LLC lifted its holdings in ENSCO PLC by 94.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 23,905 shares of the offshore drilling services provider’s stock worth $123,000 after buying an additional 11,605 shares during the last quarter. Hellman Jordan Management Co. Inc. MA purchased a new stake in ENSCO PLC during the 2nd quarter worth about $126,000. Finally, LS Investment Advisors LLC lifted its holdings in ENSCO PLC by 19.5% during the 2nd quarter. LS Investment Advisors LLC now owns 24,804 shares of the offshore drilling services provider’s stock worth $128,000 after buying an additional 4,039 shares during the last quarter. 91.56% of the stock is owned by hedge funds and other institutional investors.
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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