Ensco (ESV) Bonds Trading 2.5% Lower

An issue of Ensco Plc (NYSE:ESV) bonds fell 2.5% against their 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 $90.50 and were trading at $90.50 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

A number of equities research analysts recently weighed in on the company. B. Riley reissued a “neutral” rating on shares of Ensco in a research report on Wednesday, November 1st. Piper Jaffray Companies downgraded Ensco from an “overweight” rating to a “neutral” rating and set a $6.00 target price on the stock. in a research report on Thursday. Cowen set a $6.00 target price on Ensco and gave the stock a “hold” rating in a research report on Thursday. Susquehanna Bancshares set a $7.00 target price on Ensco and gave the stock a “hold” rating in a research report on Friday. Finally, Goldman Sachs Group assumed coverage on Ensco in a research report on Friday, October 13th. They set a “buy” rating and a $8.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $7.91.

Ensco Plc (NYSE:ESV) traded up $0.07 during midday trading on Friday, reaching $7.43. The company’s stock had a trading volume of 10,600,832 shares, compared to its average volume of 11,521,318. The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $4,182.09, a P/E ratio of -39.11 and a beta of 1.82. Ensco Plc has a 12 month low of $4.10 and a 12 month high of $12.04.

Ensco (NYSE:ESV) last released its quarterly earnings data on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.11. The company had revenue of $460.00 million for the quarter, compared to the consensus estimate of $457.79 million. Ensco had a negative return on equity of 0.37% and a negative net margin of 3.04%. The company’s quarterly revenue was down 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. equities analysts expect that Ensco Plc will post -0.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, December 4th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, December 1st. Ensco’s payout ratio is currently -21.05%.

Several institutional investors and hedge funds have recently made changes to their positions in ESV. Private Advisor Group LLC acquired a new position in shares of Ensco in the 3rd quarter worth approximately $100,000. GWM Advisors LLC acquired a new position in shares of Ensco in the 2nd quarter worth approximately $107,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Ensco in the 2nd quarter worth approximately $116,000. Harvest Management LLC acquired a new position in shares of Ensco in the 3rd quarter worth approximately $119,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Ensco in the 3rd quarter worth approximately $121,000. 76.80% of the stock is currently owned by institutional investors and hedge funds.

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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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