Ensco (ESV) Stock Rating Upgraded by Johnson Rice

Johnson Rice upgraded shares of Ensco (NYSE:ESV) from an accumulate rating to a buy rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $12.00 price objective on the offshore drilling services provider’s stock.

A number of other brokerages have also recently weighed in on ESV. ValuEngine cut shares of Ensco from a strong-buy rating to a buy rating in a research note on Thursday, July 12th. Societe Generale upgraded shares of Ensco from a hold rating to a buy rating in a research note on Friday, October 12th. UBS Group set a $12.00 price target on shares of Ensco and gave the stock a buy rating in a research note on Wednesday, October 10th. BTIG Research started coverage on shares of Ensco in a research note on Monday, September 17th. They set a buy rating and a $10.00 price target for the company. Finally, Citigroup increased their price target on shares of Ensco from $5.25 to $6.40 and gave the stock a neutral rating in a research note on Thursday, June 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Ensco currently has an average rating of Hold and an average target price of $8.18.

Shares of Ensco stock traded down $0.47 during trading hours on Wednesday, hitting $8.26. The company had a trading volume of 705,523 shares, compared to its average volume of 13,370,036. Ensco has a twelve month low of $4.10 and a twelve month high of $9.51. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.59. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -16.00 and a beta of 1.86.

Ensco (NYSE:ESV) last issued its earnings results on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) earnings per share (EPS) for the quarter, beating 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 business had revenue of $458.50 million during the quarter, compared to analysts’ expectations of $449.69 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts forecast that Ensco 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. Stockholders of record on Monday, September 10th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Friday, September 7th. Ensco’s dividend payout ratio (DPR) is presently -7.69%.

Several hedge funds have recently added to or reduced their stakes in ESV. Vanguard Capital Wealth Advisors acquired a new stake in shares of Ensco in the 2nd quarter worth $111,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Ensco by 151.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 26,400 shares of the offshore drilling services provider’s stock worth $116,000 after acquiring an additional 15,900 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of Ensco in the 3rd quarter worth $127,000. Essex Investment Management Co. LLC acquired a new stake in shares of Ensco in the 3rd quarter worth $129,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Ensco in the 2nd quarter worth $131,000. Institutional investors own 97.58% of the company’s stock.

About Ensco

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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Analyst Recommendations for Ensco (NYSE:ESV)

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