Ensco PLC (ESV) Expected to Post Q2 2017 Earnings of $0.12 Per Share
Ensco PLC (NYSE:ESV) – Equities research analysts at Seaport Global Securities decreased their Q2 2017 earnings per share (EPS) estimates for shares of Ensco PLC in a note issued to investors on Friday. Seaport Global Securities analyst M. Brown now expects that the brokerage will earn $0.12 per share for the quarter, down from their previous forecast of $0.13. Seaport Global Securities also issued estimates for Ensco PLC’s Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.02 EPS and FY2017 earnings at $0.44 EPS.
A number of other analysts have also issued reports on ESV. Jefferies Group reissued a “hold” rating on shares of Ensco PLC in a research note on Sunday, July 10th. Zacks Investment Research lowered Ensco PLC from a “hold” rating to a “strong sell” rating in a research note on Monday, July 18th. Scotiabank reaffirmed a “sector outperform” rating and issued a $10.00 price objective on shares of Ensco PLC in a research note on Wednesday, September 14th. Howard Weil reaffirmed a “sector outperform” rating on shares of Ensco PLC in a research note on Thursday, September 15th. Finally, Zephirin Group raised Ensco PLC from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, September 19th. Seven investment 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. The stock presently has an average rating of “Hold” and an average target price of $11.77.
Ensco PLC (NYSE:ESV) opened at 8.30 on Monday. The stock’s market capitalization is $2.50 billion. The firm has a 50-day moving average of $7.69 and a 200 day moving average of $9.39. Ensco PLC has a 52 week low of $6.50 and a 52 week high of $18.93.
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Ensco PLC (NYSE:ESV) last announced its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $1.51. The company had revenue of $910 million for the quarter, compared to analyst estimates of $746.55 million. Ensco PLC had a negative net margin of 39.67% and a positive return on equity of 10.06%. The firm’s revenue was down 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 earnings per share.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of Ensco PLC by 28.8% in the first quarter. BlackRock Fund Advisors now owns 8,442,218 shares of the offshore drilling services provider’s stock worth $87,546,000 after buying an additional 1,888,452 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Ensco PLC by 10.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,147,391 shares of the offshore drilling services provider’s stock worth $74,118,000 after buying an additional 695,022 shares during the period. Advisor Partners LLC acquired a new position in shares of Ensco PLC during the first quarter worth about $139,000. Willis Investment Counsel raised its position in shares of Ensco PLC by 40.4% in the first quarter. Willis Investment Counsel now owns 320,548 shares of the offshore drilling services provider’s stock worth $3,324,000 after buying an additional 92,173 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Ensco PLC by 33.8% in the first quarter. Canada Pension Plan Investment Board now owns 160,410 shares of the offshore drilling services provider’s stock worth $1,663,000 after buying an additional 40,500 shares during the period. Institutional investors own 85.79% of the company’s stock.
Ensco PLC Company Profile
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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