Ensco Plc (NYSE:ESV) – Investment analysts at Jefferies Financial Group boosted their FY2018 earnings per share (EPS) estimates for Ensco in a note issued to investors on Tuesday, October 16th. Jefferies Financial Group analyst E. Royes now forecasts that the offshore drilling services provider will earn ($1.30) per share for the year, up from their previous forecast of ($1.35). Jefferies Financial Group also issued estimates for Ensco’s Q4 2018 earnings at ($0.35) EPS, FY2019 earnings at ($0.93) EPS, FY2020 earnings at ($0.55) EPS, FY2021 earnings at $0.20 EPS and FY2022 earnings at $0.40 EPS.
Several other brokerages have also issued reports on ESV. ValuEngine lowered Ensco from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 12th. Societe Generale raised Ensco from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. UBS Group set a $12.00 price objective on Ensco and gave the stock a “buy” rating in a research note on Wednesday, October 10th. BTIG Research started coverage on Ensco in a research note on Monday, September 17th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Citigroup increased their price objective on Ensco from $5.25 to $6.40 and gave the stock a “neutral” rating in a research note on Thursday, June 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.18.
Ensco (NYSE:ESV) last announced its quarterly earnings results on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. The business had revenue of $458.50 million for the quarter, compared to analyst estimates of $449.69 million. Ensco had a negative return on equity of 4.51% and a negative net margin of 29.25%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Monday, September 10th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, September 7th. Ensco’s payout ratio is -7.69%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Energy Opportunities Capital Management LLC increased its position in shares of Ensco by 166.0% during 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 acquiring an additional 365,590 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Ensco during the second quarter valued at approximately $92,724,000. GeoSphere Capital Management LLC purchased a new stake in shares of Ensco during the second quarter valued at approximately $414,000. Fox Run Management L.L.C. purchased a new stake in shares of Ensco during the second quarter valued at approximately $219,000. Finally, Lansdowne Partners UK LLP purchased a new stake in shares of Ensco during the second quarter valued at approximately $21,425,000. 97.58% of the stock is owned by institutional investors.
Ensco Company Profile
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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