Zacks: Analysts Expect Ensco Plc (NYSE:ESV) Will Post Quarterly Sales of $462.96 Million
Analysts expect Ensco Plc (NYSE:ESV) to report sales of $462.96 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Ensco Plc’s earnings, with estimates ranging from $448.60 million to $486.00 million. Ensco Plc reported sales of $548.20 million in the same quarter last year, which indicates a negative year over year growth rate of 15.5%. The company is expected to report its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Ensco Plc will report full-year sales of $462.96 million for the current year, with estimates ranging from $1.81 billion to $1.94 billion. For the next financial year, analysts expect that the firm will report sales of $1.76 billion per share, with estimates ranging from $1.43 billion to $2.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ensco Plc.
Ensco Plc (NYSE:ESV) last posted its earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. Ensco Plc had a return on equity of 0.77% and a net margin of 2.68%. The firm had revenue of $457.50 million for the quarter, compared to analysts’ expectations of $453.48 million. During the same period last year, the firm earned $2.04 EPS. The firm’s revenue was down 49.7% compared to the same quarter last year.
Several research analysts have issued reports on ESV shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $11.00 price objective (down previously from $11.50) on shares of Ensco Plc in a report on Tuesday, April 11th. Barclays PLC reaffirmed a “sell” rating and set a $8.00 price objective on shares of Ensco Plc in a report on Thursday, April 27th. Clarkson Capital raised Ensco Plc from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Tuesday, May 30th. Seaport Global Securities raised Ensco Plc from a “sell” rating to a “neutral” rating and set a $6.50 price objective on the stock in a report on Wednesday, May 31st. Finally, BidaskClub raised Ensco Plc from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Ensco Plc currently has an average rating of “Hold” and an average target price of $9.64.
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A number of institutional investors have recently made changes to their positions in ESV. Acadian Asset Management LLC raised its position in shares of Ensco Plc by 237.8% in the first quarter. Acadian Asset Management LLC now owns 661,660 shares of the offshore drilling services provider’s stock worth $5,921,000 after buying an additional 465,767 shares during the last quarter. First Manhattan Co. raised its position in shares of Ensco Plc by 72.6% in the first quarter. First Manhattan Co. now owns 14,260 shares of the offshore drilling services provider’s stock worth $121,000 after buying an additional 6,000 shares during the last quarter. Sippican Capital Advisors raised its position in shares of Ensco Plc by 9.7% in the first quarter. Sippican Capital Advisors now owns 165,590 shares of the offshore drilling services provider’s stock worth $1,482,000 after buying an additional 14,618 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Ensco Plc by 3.0% in the first quarter. Nationwide Fund Advisors now owns 547,531 shares of the offshore drilling services provider’s stock worth $4,900,000 after buying an additional 15,777 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in shares of Ensco Plc during the first quarter worth $279,000. 89.52% of the stock is owned by hedge funds and other institutional investors.
Ensco Plc (NYSE:ESV) opened at 5.00 on Tuesday. The firm has a market capitalization of $1.52 billion, a PE ratio of 31.25 and a beta of 1.64. Ensco Plc has a 12 month low of $4.71 and a 12 month high of $12.04. The stock’s 50 day moving average price is $5.35 and its 200 day moving average price is $7.96.
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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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