Societe Generale upgraded shares of Ensco (NYSE:ESV) from a hold rating to a buy rating in a report issued on Friday, MarketBeat reports.
Other research analysts also recently issued research reports about the company. Barclays boosted their price target on Ensco from $4.00 to $5.00 and gave the company an underweight rating in a research note on Thursday, August 9th. Piper Jaffray Companies reaffirmed a hold rating and issued a $9.00 price target on shares of Ensco in a research note on Tuesday. Susquehanna Bancshares set a $8.00 price target on Ensco and gave the company a hold rating in a research note on Friday, July 27th. ValuEngine downgraded Ensco from a buy rating to a hold rating in a research note on Wednesday, July 25th. Finally, Citigroup boosted their price target on Ensco from $5.25 to $6.40 and gave the company a neutral rating in a research note on Thursday, June 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $7.61.
ESV stock traded up $0.15 during midday trading on Friday, reaching $8.71. The company had a trading volume of 12,599,981 shares, compared to its average volume of 13,426,096. The company has a market cap of $3.69 billion, a PE ratio of -16.75 and a beta of 1.86. Ensco has a 1-year low of $4.10 and a 1-year high of $9.51. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.59.
Ensco (NYSE:ESV) last posted its quarterly earnings results on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.03. The business had revenue of $458.50 million during the quarter, compared to the consensus estimate of $449.69 million. Ensco had a negative return on equity of 4.51% and a negative net margin of 29.25%. Ensco’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. On average, analysts anticipate that Ensco will post -1.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Monday, September 10th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, September 7th. Ensco’s payout ratio is -7.69%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hellman Jordan Management Co. Inc. MA lifted its stake in Ensco by 509.7% in the second quarter. Hellman Jordan Management Co. Inc. MA now owns 94,500 shares of the offshore drilling services provider’s stock valued at $686,000 after buying an additional 79,000 shares during the period. Energy Opportunities Capital Management LLC lifted its stake in Ensco by 166.0% in the second quarter. Energy Opportunities Capital Management LLC now owns 585,785 shares of the offshore drilling services provider’s stock valued at $4,253,000 after buying an additional 365,590 shares during the period. Odey Asset Management Group Ltd acquired a new position in Ensco in the second quarter valued at approximately $19,720,000. Castleark Management LLC acquired a new position in Ensco in the second quarter valued at approximately $4,223,000. Finally, GeoSphere Capital Management LLC acquired a new position in Ensco in the second quarter valued at approximately $414,000. 97.58% of the stock is owned by hedge funds and other institutional investors.
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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