Credit Suisse Group upgraded shares of Ensco (NYSE:ESV) from a neutral rating to a buy rating in a research report sent to investors on Friday, MarketBeat.com reports. Credit Suisse Group currently has $8.00 price objective on the offshore drilling services provider’s stock.
ESV has been the subject of a number of other research reports. Piper Jaffray downgraded shares of Ensco from an overweight rating to a neutral rating and set a $6.00 target price for the company. in a research note on Thursday, January 11th. Zacks Investment Research downgraded shares of Ensco from a hold rating to a sell rating in a research note on Thursday, December 28th. Susquehanna Bancshares set a $7.00 target price on shares of Ensco and gave the stock a hold rating in a research note on Friday, January 12th. Citigroup downgraded shares of Ensco from a buy rating to a neutral rating in a research note on Monday, March 19th. Finally, Wells Fargo reduced their price target on shares of Ensco from $7.00 to $6.00 and set a market perform rating for the company in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $6.61.
Shares of NYSE ESV opened at $5.52 on Friday. Ensco has a twelve month low of $4.10 and a twelve month high of $8.75. The firm has a market cap of $2,367.53, a P/E ratio of -10.62 and a beta of 1.82. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.54.
Ensco (NYSE:ESV) last announced its earnings results on Tuesday, February 27th. The offshore drilling services provider reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. Ensco had a negative net margin of 16.48% and a negative return on equity of 1.86%. The business had revenue of $454.00 million during the quarter, compared to the consensus estimate of $453.21 million. During the same quarter last year, the firm earned $0.10 earnings per share. Ensco’s quarterly revenue was down 10.1% on a year-over-year basis. research analysts predict that Ensco will post -0.98 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of ESV. New York State Common Retirement Fund grew its holdings in shares of Ensco by 7.7% during the third quarter. New York State Common Retirement Fund now owns 1,413,100 shares of the offshore drilling services provider’s stock valued at $8,436,000 after buying an additional 101,200 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Ensco by 3.3% during the third quarter. Legal & General Group Plc now owns 923,290 shares of the offshore drilling services provider’s stock valued at $5,509,000 after buying an additional 29,539 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Ensco by 22.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 2,069,292 shares of the offshore drilling services provider’s stock valued at $12,354,000 after buying an additional 376,450 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Ensco during the third quarter valued at about $100,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of Ensco during the third quarter valued at about $3,598,000. Hedge funds and other institutional investors own 92.16% of the company’s stock.
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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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