Ensco (ESV) Shares Down 5.8%

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Ensco Plc (NYSE:ESV)’s share price dropped 5.8% during trading on Monday . The company traded as low as $14.84 and last traded at $14.85. Approximately 10,495,635 shares traded hands during mid-day trading, an increase of 219% from the average daily volume of 3,286,053 shares. The stock had previously closed at $15.76.

ESV has been the topic of a number of analyst reports. DNB Markets raised Ensco from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. BTIG Research dropped their target price on Ensco from $18.00 to $14.00 and set an “average” rating on the stock in a report on Thursday, December 20th. HSBC raised Ensco from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Friday, March 8th. Jefferies Financial Group reissued a “hold” rating and issued a $4.00 target price on shares of Ensco in a report on Friday, December 28th. Finally, Barclays set a $5.00 target price on Ensco and gave the stock a “sell” rating in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $8.53.

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.48 and a quick ratio of 2.48. The stock has a market capitalization of $1.67 billion, a P/E ratio of -2.84 and a beta of 2.16.

Ensco (NYSE:ESV) last released its quarterly earnings data on Wednesday, February 27th. The offshore drilling services provider reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). The business had revenue of $399.00 million during the quarter, compared to the consensus estimate of $404.69 million. Ensco had a negative return on equity of 6.95% and a negative net margin of 37.51%. The business’s revenue was down 12.1% on a year-over-year basis. During the same period last year, the company earned ($0.23) EPS. Analysts forecast that Ensco Plc will post -5.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, March 8th. Ensco’s dividend payout ratio (DPR) is -2.99%.

A number of institutional investors have recently made changes to their positions in ESV. Hosking Partners LLP raised its position in Ensco by 8.6% during the fourth quarter. Hosking Partners LLP now owns 2,528,562 shares of the offshore drilling services provider’s stock valued at $9,002,000 after purchasing an additional 200,387 shares during the period. Renaissance Technologies LLC raised its position in Ensco by 5.0% during the third quarter. Renaissance Technologies LLC now owns 4,504,429 shares of the offshore drilling services provider’s stock valued at $38,017,000 after purchasing an additional 214,475 shares during the period. Private Advisor Group LLC raised its position in Ensco by 95.1% during the fourth quarter. Private Advisor Group LLC now owns 22,300 shares of the offshore drilling services provider’s stock valued at $79,000 after purchasing an additional 10,871 shares during the period. Alps Advisors Inc. raised its position in Ensco by 14.8% during the fourth quarter. Alps Advisors Inc. now owns 154,509 shares of the offshore drilling services provider’s stock valued at $550,000 after purchasing an additional 19,862 shares during the period. Finally, Vanguard Group Inc raised its position in Ensco by 0.9% during the third quarter. Vanguard Group Inc now owns 38,680,474 shares of the offshore drilling services provider’s stock valued at $326,463,000 after purchasing an additional 336,835 shares during the period. 98.83% of the stock is owned by institutional investors.

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About Ensco (NYSE:ESV)

Ensco Plc engages in the provision of offshore contract drilling services to the international oil and gas industry. It operates its business through the following segments: Floaters, Jackups, and Others. The Floaters segment includes drill ships and semisubmersible rigs. The Jackups segment offers contract drilling service.

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