Capital One Financial Corp. Research Analysts Boost Earnings Estimates for Ensco PLC (ESV)
Ensco PLC (NYSE:ESV) – Stock analysts at Capital One Financial Corp. lifted their Q3 2016 earnings per share (EPS) estimates for shares of Ensco PLC in a research note issued to investors on Friday. Capital One Financial Corp. analyst L. Lemoine now expects that the brokerage will post earnings per share of $0.11 for the quarter, up from their prior estimate of $0.06. Capital One Financial Corp. also issued estimates for Ensco PLC’s FY2016 earnings at $1.26 EPS.
Ensco PLC (NYSE:ESV) last released its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $1.51. Ensco PLC had a negative net margin of 39.67% and a positive return on equity of 10.06%. The business had revenue of $910 million for the quarter, compared to analysts’ expectations of $746.55 million. During the same period last year, the business earned $1.11 EPS. The company’s revenue was down 14.1% compared to the same quarter last year.
ESV has been the topic of a number of other reports. Evercore ISI reaffirmed a “buy” rating on shares of Ensco PLC in a research report on Wednesday, June 29th. 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 report on Monday, September 19th. Goldman Sachs Group Inc. raised Ensco PLC from a “neutral” rating to a “buy” rating and set a $10.50 target price on the stock in a research report on Wednesday, September 21st. Jefferies Group reaffirmed a “hold” rating on shares of Ensco PLC in a research report on Sunday, July 10th. Finally, Zacks Investment Research raised Ensco PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.77.
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Shares of Ensco PLC (NYSE:ESV) opened at 8.30 on Monday. The stock has a 50 day moving average of $7.69 and a 200-day moving average of $9.39. Ensco PLC has a 12-month low of $6.50 and a 12-month high of $18.93. The company’s market capitalization is $2.50 billion.
Several hedge funds have recently made changes to their positions in ESV. Vanguard Group Inc. increased its stake in shares of Ensco PLC by 30.5% in the second quarter. Vanguard Group Inc. now owns 32,399,404 shares of the offshore drilling services provider’s stock worth $314,598,000 after buying an additional 7,576,931 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Ensco PLC by 35.6% in the second quarter. BlackRock Fund Advisors now owns 11,446,745 shares of the offshore drilling services provider’s stock worth $111,148,000 after buying an additional 3,004,527 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Ensco PLC during the second quarter worth approximately $24,093,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of Ensco PLC by 29.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,224,245 shares of the offshore drilling services provider’s stock worth $89,567,000 after buying an additional 2,076,854 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Ensco PLC by 16.6% in the second quarter. State Street Corp now owns 14,491,794 shares of the offshore drilling services provider’s stock worth $140,714,000 after buying an additional 2,060,673 shares in the last quarter. Institutional investors own 85.87% of the company’s stock.
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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