Ensco Plc (ESV) Expected to Announce Earnings of -$0.35 Per Share

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Analysts expect Ensco Plc (NYSE:ESV) to post earnings per share of ($0.35) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Ensco’s earnings. The highest EPS estimate is ($0.32) and the lowest is ($0.37). Ensco reported earnings of ($0.05) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 600%. The firm is scheduled to issue its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Ensco will report full year earnings of ($1.34) per share for the current year, with EPS estimates ranging from ($1.44) to ($1.23). For the next year, analysts anticipate that the company will post earnings of ($1.16) per share, with EPS estimates ranging from ($1.44) to ($0.88). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Ensco.

Ensco (NYSE:ESV) last released its quarterly earnings data on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. The company had revenue of $458.50 million during the quarter, compared to the consensus estimate of $449.69 million. Ensco had a negative net margin of 29.25% and a negative return on equity of 4.51%. Ensco’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm earned ($0.10) EPS.

ESV has been the subject of several analyst reports. ValuEngine downgraded shares of Ensco from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Tudor Pickering raised shares of Ensco from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. HSBC downgraded shares of Ensco from a “buy” rating to a “hold” rating and raised their price objective for the stock from $6.49 to $7.00 in a report on Thursday, June 7th. Credit Suisse Group set a $8.00 price objective on shares of Ensco and gave the stock a “buy” rating in a report on Friday, April 27th. Finally, Susquehanna Bancshares set a $8.00 price objective on shares of Ensco and gave the stock a “hold” rating in a report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. Ensco presently has a consensus rating of “Hold” and a consensus price target of $6.67.

A number of large investors have recently made changes to their positions in ESV. Raymond James & Associates boosted its holdings in Ensco by 142.9% in the 4th quarter. Raymond James & Associates now owns 48,360 shares of the offshore drilling services provider’s stock valued at $286,000 after purchasing an additional 28,451 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Ensco by 30.6% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,038,971 shares of the offshore drilling services provider’s stock worth $6,140,000 after acquiring an additional 243,195 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Ensco during the 4th quarter worth $234,000. Wasatch Advisors Inc. lifted its holdings in shares of Ensco by 37.3% during the 1st quarter. Wasatch Advisors Inc. now owns 453,918 shares of the offshore drilling services provider’s stock worth $1,993,000 after acquiring an additional 123,360 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Ensco by 6.4% during the 1st quarter. Wells Fargo & Company MN now owns 817,949 shares of the offshore drilling services provider’s stock worth $3,590,000 after acquiring an additional 49,259 shares during the last quarter. 97.86% of the stock is owned by hedge funds and other institutional investors.

ESV traded down $0.01 on Friday, hitting $6.17. The company’s stock had a trading volume of 13,096,950 shares, compared to its average volume of 13,892,944. The company has a market cap of $3.12 billion, a PE ratio of -11.87 and a beta of 1.87. Ensco has a 12 month low of $4.10 and a 12 month high of $8.00. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.59.

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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