Ensco (ESV) Debt Trading 1% Higher

An issue of Ensco Plc (NYSE:ESV) bonds rose 1% against their face value during trading on Monday. The debt issue has a 7.75% coupon and is set to mature on February 1, 2026. The bonds in the issue are now trading at $98.75 and were trading at $97.00 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its share price.

Several research firms have commented on ESV. Piper Jaffray Companies reissued a “hold” rating and set a $6.25 price target on shares of Ensco in a research note on Friday, July 20th. HSBC downgraded shares of Ensco from a “buy” rating to a “hold” rating and lifted their price target for the stock from $6.49 to $7.00 in a research note on Thursday, June 7th. DNB Markets downgraded shares of Ensco from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. ValuEngine raised shares of Ensco from a “hold” rating to a “buy” rating in a research note on Tuesday, June 5th. Finally, Susquehanna Bancshares set a $8.00 price target on shares of Ensco and gave the stock a “hold” rating in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.79.

Shares of NYSE ESV opened at $8.54 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.66 and a current ratio of 2.66. Ensco Plc has a 52 week low of $4.10 and a 52 week high of $8.74.

Ensco (NYSE:ESV) last issued its earnings results on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. Ensco had a negative net margin of 29.25% and a negative return on equity of 4.51%. The company had revenue of $458.50 million for the quarter, compared to the consensus estimate of $449.69 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. analysts predict that Ensco Plc will post -1.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Monday, September 10th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, September 7th. Ensco’s payout ratio is -7.69%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Ensco by 254.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 11,322 shares of the offshore drilling services provider’s stock worth $629,000 after buying an additional 8,128 shares during the period. Arizona State Retirement System increased its position in Ensco by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 303,474 shares of the offshore drilling services provider’s stock valued at $2,203,000 after purchasing an additional 8,482 shares during the period. FIL Ltd increased its position in Ensco by 10.8% during the 1st quarter. FIL Ltd now owns 89,567 shares of the offshore drilling services provider’s stock valued at $393,000 after purchasing an additional 8,752 shares during the period. Check Capital Management Inc. CA increased its position in Ensco by 39.5% during the 2nd quarter. Check Capital Management Inc. CA now owns 31,525 shares of the offshore drilling services provider’s stock valued at $229,000 after purchasing an additional 8,930 shares during the period. Finally, Private Advisor Group LLC increased its position in Ensco by 78.5% during the 1st quarter. Private Advisor Group LLC now owns 23,717 shares of the offshore drilling services provider’s stock valued at $103,000 after purchasing an additional 10,430 shares during the period. 97.58% of the stock is currently owned by institutional investors.

Ensco Company Profile (NYSE:ESV)

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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