ValuEngine Upgrades Ensco (ESV) to “Strong-Buy”

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ValuEngine upgraded shares of Ensco (NYSE:ESV) from a buy rating to a strong-buy rating in a report issued on Tuesday.

ESV has been the subject of several other reports. HSBC lowered Ensco from a buy rating to a hold rating and raised their price objective for the company from $6.49 to $7.00 in a research note on Thursday, June 7th. Tudor Pickering raised Ensco from a hold rating to a buy rating in a research note on Thursday, July 12th. Piper Jaffray Companies set a $7.00 price objective on Ensco and gave the company a hold rating in a research note on Sunday, July 29th. Susquehanna Bancshares set a $8.00 price objective on Ensco and gave the company a hold rating in a research note on Friday, July 27th. Finally, Citigroup raised their price objective on Ensco from $5.25 to $6.40 and gave the company a neutral rating in a research note on Thursday, June 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Ensco has an average rating of Hold and a consensus price target of $6.67.

Shares of Ensco stock opened at $6.42 on Tuesday. Ensco has a 12 month low of $4.10 and a 12 month high of $8.00. The company has a market cap of $2.92 billion, a P/E ratio of -12.35 and a beta of 1.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.66 and a quick ratio of 2.66.

Ensco (NYSE:ESV) last posted its quarterly earnings data 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. The business had revenue of $458.50 million during 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 revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned ($0.10) EPS. research analysts predict that Ensco will post -1.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Monday, September 10th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Friday, September 7th. Ensco’s dividend payout ratio is currently -7.69%.

Several hedge funds have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Ensco by 254.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,322 shares of the offshore drilling services provider’s stock worth $629,000 after acquiring an additional 8,128 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of 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 worth $2,203,000 after acquiring an additional 8,482 shares during the last quarter. FIL Ltd lifted its stake in shares of Ensco by 10.8% during the 1st quarter. FIL Ltd now owns 89,567 shares of the offshore drilling services provider’s stock worth $393,000 after acquiring an additional 8,752 shares during the last quarter. Check Capital Management Inc. CA lifted its stake in shares of 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 worth $229,000 after acquiring an additional 8,930 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of 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 worth $103,000 after acquiring an additional 10,430 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ensco (NYSE:ESV)

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