ENSCO PLC (ESV) Bond Prices Rise 3.3%

An issue of ENSCO PLC (NYSE:ESV) debt rose 3.3% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 7.875% coupon and is set to mature on August 15, 2040. The bonds in the issue are now trading at $85.50 and were trading at $86.00 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.

Several equities analysts have issued reports on the company. Nordea Equity Research reissued a “buy” rating and issued a $8.00 price target on shares of ENSCO PLC in a research note on Saturday, September 30th. UBS AG raised ENSCO PLC from a “neutral” rating to a “buy” rating and boosted their price target for the company from $6.00 to $8.00 in a research note on Monday, September 25th. Goldman Sachs Group, Inc. (The) assumed coverage on ENSCO PLC in a research note on Friday, October 13th. They issued a “buy” rating and a $8.00 price target on the stock. HSBC Holdings plc assumed coverage on ENSCO PLC in a research note on Thursday, October 19th. They issued a “buy” rating and a $7.30 price target on the stock. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $6.10 price target on shares of ENSCO PLC in a research note on Sunday, October 22nd. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. ENSCO PLC has an average rating of “Hold” and an average price target of $8.47.

Shares of ENSCO PLC (ESV) traded up 3.99% during midday trading on Friday, reaching $5.21. The company had a trading volume of 24,109,135 shares. The company has a 50-day moving average price of $5.38 and a 200 day moving average price of $5.86. The company has a market capitalization of $1.58 billion, a P/E ratio of 32.56 and a beta of 1.75. ENSCO PLC has a one year low of $4.10 and a one year high of $12.04.

ENSCO PLC (NYSE:ESV) last announced its quarterly earnings data on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.11. The business had revenue of $460.00 million during the quarter, compared to analysts’ expectations of $457.79 million. ENSCO PLC had a negative return on equity of 0.37% and a negative net margin of 3.04%. The firm’s quarterly revenue was down 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. Equities analysts anticipate that ENSCO PLC will post ($0.40) earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its stake in ENSCO PLC by 50.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 17,400 shares of the offshore drilling services provider’s stock valued at $156,000 after buying an additional 5,800 shares during the last quarter. Neuberger Berman Group LLC raised its stake in ENSCO PLC by 2.3% during the first quarter. Neuberger Berman Group LLC now owns 19,304 shares of the offshore drilling services provider’s stock valued at $173,000 after buying an additional 436 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in ENSCO PLC during the third quarter valued at $121,000. GWM Advisors LLC purchased a new position in ENSCO PLC during the second quarter valued at $107,000. Finally, Fox Run Management L.L.C. purchased a new position in ENSCO PLC during the third quarter valued at $127,000. Institutional investors and hedge funds own 91.56% of the company’s stock.

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ENSCO PLC 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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