Cowen set a $5.00 price objective on Ensco (NYSE:ESV) in a research note issued to investors on Thursday, March 15th. The firm currently has a hold rating on the offshore drilling services provider’s stock.
Several other research firms have also recently issued reports on ESV. Susquehanna Bancshares set a $7.00 price target on Ensco and gave the stock a hold rating in a research note on Friday, January 12th. Piper Jaffray lowered Ensco from an overweight rating to a neutral rating and set a $6.00 price target for the company. in a research report on Thursday, January 11th. Credit Suisse Group downgraded Ensco from an outperform rating to a neutral rating and set a $8.00 price objective for the company. in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Zacks Investment Research lowered Ensco from a hold rating to a sell rating in a report on Monday, January 8th. Finally, Jefferies Group set a $6.00 target price on Ensco and gave the company a hold rating in a report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $6.66.
NYSE ESV opened at $4.62 on Thursday. Ensco has a fifty-two week low of $4.10 and a fifty-two week high of $9.50. The company has a market capitalization of $1,970.76, a price-to-earnings ratio of -8.88 and a beta of 1.82. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 2.13.
Ensco (NYSE:ESV) last posted its quarterly earnings results on Tuesday, February 27th. The offshore drilling services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. Ensco had a negative return on equity of 1.86% and a negative net margin of 16.48%. The business had revenue of $454.00 million for the quarter, compared to analyst estimates of $453.21 million. During the same period in the prior year, the company posted $0.10 EPS. The business’s revenue was down 10.1% compared to the same quarter last year. sell-side analysts forecast that Ensco will post -0.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Monday, March 5th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, March 2nd. Ensco’s payout ratio is -7.69%.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in Ensco by 45.4% during the fourth quarter. BlackRock Inc. now owns 48,257,622 shares of the offshore drilling services provider’s stock worth $285,202,000 after buying an additional 15,071,031 shares in the last quarter. Majedie Asset Management Ltd boosted its holdings in shares of Ensco by 182.2% in the 4th quarter. Majedie Asset Management Ltd now owns 18,008,535 shares of the offshore drilling services provider’s stock valued at $106,430,000 after purchasing an additional 11,626,102 shares in the last quarter. Capital International Investors boosted its holdings in shares of Ensco by 49.1% in the 3rd quarter. Capital International Investors now owns 15,811,810 shares of the offshore drilling services provider’s stock valued at $94,397,000 after purchasing an additional 5,205,307 shares in the last quarter. Van Den Berg Management I Inc. lifted its stake in shares of Ensco by 205.4% in the 4th quarter. Van Den Berg Management I Inc. now owns 7,705,642 shares of the offshore drilling services provider’s stock valued at $45,540,000 after acquiring an additional 5,182,896 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in shares of Ensco by 8,457.4% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,422,263 shares of the offshore drilling services provider’s stock valued at $20,226,000 after acquiring an additional 3,382,271 shares during the last quarter. 92.16% of the stock is currently owned by institutional investors.
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Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. It operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet of 65 rigs, including 32 located in the Middle East, Africa, and the Asia Pacific, which comprise 3 rigs under construction; 14 located in North and South America, such as Brazil; and 19 located in Europe and the Mediterranean.
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