Ensco PLC (ESV) Upgraded by Clarkson Capital to Neutral
Ensco PLC (NYSE:ESV) was upgraded by equities research analysts at Clarkson Capital from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other research analysts have also recently commented on the company. Goldman Sachs Group Inc. raised Ensco PLC from a “neutral” rating to a “buy” rating in a research note on Wednesday. Zephirin Group raised Ensco PLC from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday. Howard Weil reaffirmed a “sector outperform” rating on shares of Ensco PLC in a research note on Thursday, September 15th. Scotiabank reaffirmed a “sector outperform” rating and set a $10.00 target price on shares of Ensco PLC in a research note on Wednesday, September 14th. Finally, Scotia Howard Weill began coverage on Ensco PLC in a research note on Wednesday, September 14th. They set an “outperform” rating and a $10.00 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $11.92.
Shares of Ensco PLC (NYSE:ESV) opened at 7.09 on Thursday. The company’s 50-day moving average price is $7.93 and its 200-day moving average price is $9.72. The company’s market capitalization is $2.14 billion. Ensco PLC has a 1-year low of $6.50 and a 1-year high of $18.93.
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Ensco PLC (NYSE:ESV) last issued its quarterly earnings data on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $1.51. Ensco PLC had a positive return on equity of 10.06% and a negative net margin of 39.67%. The company had revenue of $910 million for the quarter, compared to analysts’ expectations of $746.55 million. During the same period in the previous year, the firm posted $1.11 earnings per share. The firm’s revenue for the quarter was down 14.1% on a year-over-year basis. On average, equities analysts expect that Ensco PLC will post $1.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a 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 company. Norges Bank bought a new stake in shares of Ensco PLC during the fourth quarter valued at $44,067,000. Texas Permanent School Fund increased its stake in shares of Ensco PLC by 186.1% in the first quarter. Texas Permanent School Fund now owns 236,843 shares of the offshore drilling services provider’s stock valued at $2,456,000 after buying an additional 154,060 shares in the last quarter. Virginia Retirement System bought a new stake in shares of Ensco PLC during the first quarter valued at $990,000. ICM Asset Management Inc. WA bought a new stake in shares of Ensco PLC during the first quarter valued at $1,371,000. Finally, Check Capital Management Inc. CA increased its stake in shares of Ensco PLC by 13.6% in the first quarter. Check Capital Management Inc. CA now owns 25,935 shares of the offshore drilling services provider’s stock valued at $269,000 after buying an additional 3,100 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.
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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