Investment analysts at Goldman Sachs Group, Inc. (The) initiated coverage on shares of Ensco Plc (NYSE:ESV) in a note issued to investors on Friday, The Fly reports. The brokerage set a “buy” rating on the offshore drilling services provider’s stock.

Several other equities analysts also recently issued reports on ESV. Piper Jaffray Companies raised shares of Ensco Plc from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $9.20 to $8.00 in a report on Monday, June 19th. Seaport Global Securities downgraded shares of Ensco Plc from a “neutral” rating to a “sell” rating and reduced their price target for the company from $6.50 to $4.00 in a report on Wednesday, June 21st. BidaskClub downgraded shares of Ensco Plc from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Bank of America Corporation downgraded shares of Ensco Plc from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $7.00 to $5.00 in a report on Friday, June 30th. Finally, Jefferies Group LLC set a $9.00 price objective on shares of Ensco Plc and gave the stock a “hold” rating in a report on Saturday, July 1st. Six investment analysts have rated the stock with a sell rating, six have given 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 $9.26.

Ensco Plc (ESV) opened at 5.32 on Friday. Ensco Plc has a 12 month low of $4.10 and a 12 month high of $12.04. The firm’s 50-day moving average is $5.15 and its 200-day moving average is $6.15. The stock has a market cap of $1.62 billion, a P/E ratio of 33.25 and a beta of 1.75.

Ensco Plc (NYSE:ESV) last announced its quarterly earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. Ensco Plc had a net margin of 2.68% and a return on equity of 0.77%. The company had revenue of $457.50 million during the quarter, compared to the consensus estimate of $453.48 million. During the same quarter in the previous year, the company posted $2.04 earnings per share. The company’s revenue for the quarter was down 49.7% compared to the same quarter last year. On average, equities analysts forecast that Ensco Plc will post ($0.39) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Ensco Plc (ESV) Coverage Initiated by Analysts at Goldman Sachs Group, Inc. (The)” was reported by American Banking News and is the property of of American Banking News. If you are reading this report on another website, it was copied illegally and reposted in violation of US and international copyright legislation. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/10/13/ensco-plc-esv-coverage-initiated-by-analysts-at-goldman-sachs-group-inc-the.html.

A number of institutional investors have recently modified their holdings of the business. Proficio Capital Partners bought a new stake in Ensco Plc in the fourth quarter worth about $0. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Ensco Plc by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,676 shares of the offshore drilling services provider’s stock worth $246,000 after acquiring an additional 143 shares in the last quarter. Tradewinds Capital Management LLC raised its position in Ensco Plc by 0.7% in the first quarter. Tradewinds Capital Management LLC now owns 21,449 shares of the offshore drilling services provider’s stock worth $192,000 after acquiring an additional 149 shares in the last quarter. World Asset Management Inc raised its position in Ensco Plc by 0.6% in the first quarter. World Asset Management Inc now owns 25,438 shares of the offshore drilling services provider’s stock worth $228,000 after acquiring an additional 158 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. raised its position in Ensco Plc by 1.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 11,635 shares of the offshore drilling services provider’s stock worth $104,000 after acquiring an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 91.56% 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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.

The Fly

Analyst Recommendations for Ensco Plc (NYSE:ESV)

Receive News & Ratings for Ensco Plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ensco Plc and related companies with MarketBeat.com's FREE daily email newsletter.