Ensco PLC (ESV) Rating Increased to Buy at Goldman Sachs Group Inc.
Ensco PLC (NYSE:ESV) was upgraded by research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research note issued on Wednesday.
Other analysts have also recently issued reports about the company. Jefferies Group reissued a “hold” rating on shares of Ensco PLC in a report on Sunday, July 10th. Zacks Investment Research raised Ensco PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Bank of America Corp. assumed coverage on Ensco PLC in a report on Monday, June 13th. They issued an “underperform” rating and a $9.00 price target for the company. Johnson Rice raised Ensco PLC from a “hold” rating to an “accumulate” rating in a report on Monday, June 13th. Finally, Evercore ISI reissued a “buy” rating on shares of Ensco PLC in a report on Wednesday, June 29th. Eight analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $11.92.
Ensco PLC (NYSE:ESV) traded up 6.78% during midday trading on Wednesday, hitting $7.09. The company had a trading volume of 13,021,902 shares. Ensco PLC has a 12 month low of $6.50 and a 12 month high of $18.93. The firm has a 50-day moving average price of $7.93 and a 200-day moving average price of $9.72. The company’s market cap is $2.14 billion.
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Ensco PLC (NYSE:ESV) last posted its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 EPS for the quarter, beating the consensus estimate of $0.53 by $1.51. The business earned $910 million during the quarter, compared to analysts’ expectations of $746.55 million. Ensco PLC had a positive return on equity of 10.06% and a negative net margin of 39.67%. The company’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. Equities analysts anticipate that Ensco PLC will post $1.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Wednesday, August 31st. Ensco PLC’s dividend payout ratio is currently -0.60%.
Large investors have recently made changes to their positions in the stock. Sigma Planning Corp acquired a new stake in shares of Ensco PLC during the second quarter worth approximately $101,000. Shoker Investment Counsel Inc. increased its stake in shares of Ensco PLC by 1.1% in the second quarter. Shoker Investment Counsel Inc. now owns 10,496 shares of the offshore drilling services provider’s stock worth $101,000 after buying an additional 111 shares in the last quarter. Wealthsource Partners LLC acquired a new stake in shares of Ensco PLC during the second quarter worth approximately $111,000. Eqis Capital Management Inc. acquired a new stake in shares of Ensco PLC during the second quarter worth approximately $122,000. Finally, First Allied Advisory Services Inc. acquired a new stake in shares of Ensco PLC during the second quarter worth approximately $129,000. 85.81% of the stock is owned by institutional investors and hedge funds.
About Ensco PLC
Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company’s segments include Floaters, Jackups and Other. Its Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling.
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