Ensco PLC (ESV) Lifted to “Market Perform” at BMO Capital Markets
Ensco PLC (NYSE:ESV) was upgraded by analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a report issued on Monday, The Fly reports. The brokerage presently has a $8.00 price target on the offshore drilling services provider’s stock. BMO Capital Markets’ price objective suggests a potential downside of 3.61% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also recently commented on ESV. Jefferies Group reaffirmed a “hold” rating on shares of Ensco PLC in a research note on Sunday, July 10th. Zacks Investment Research cut shares of 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 set 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 shares of 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 research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.61.
Shares of Ensco PLC (NYSE:ESV) opened at 8.30 on Monday. The company has a 50-day moving average of $7.69 and a 200 day moving average of $9.39. The company’s market cap is $2.50 billion. Ensco PLC has a 12 month low of $6.50 and a 12 month 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 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $1.51. The business had revenue of $910 million for the quarter, compared to analysts’ expectations of $746.55 million. Ensco PLC had a negative net margin of 39.67% and a positive return on equity of 10.06%. The business’s revenue was down 14.1% on a year-over-year basis. During the same quarter last year, the company earned $1.11 EPS. On average, analysts anticipate that Ensco PLC will post $1.57 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of ESV. Sigma Planning Corp acquired a new position in Ensco PLC during the second quarter worth approximately $101,000. Shoker Investment Counsel Inc. raised its position 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 valued at $101,000 after buying an additional 111 shares in the last quarter. Wealthsource Partners LLC purchased a new position in shares of Ensco PLC during the second quarter valued at about $111,000. Eqis Capital Management Inc. purchased a new position in shares of Ensco PLC during the second quarter valued at about $122,000. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Ensco PLC during the second quarter valued at about $129,000. Institutional investors and hedge funds 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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