Ensco Plc (ESV) Coverage Initiated by Analysts at HSBC Holdings plc
HSBC Holdings plc began coverage on shares of Ensco Plc (NYSE:ESV) in a research report issued on Thursday, MarketBeat reports. The firm set a “buy” rating and a $7.30 price target on the offshore drilling services provider’s stock. HSBC Holdings plc’s target price indicates a potential upside of 42.58% from the company’s previous close.
ESV has been the subject of a number of other reports. Nordea Equity Research reaffirmed a “buy” rating and set a $8.00 price objective on shares of Ensco Plc in a research report on Saturday, September 30th. Zacks Investment Research cut Ensco Plc from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Deutsche Bank AG began coverage on Ensco Plc in a research report on Tuesday, October 10th. They set a “hold” rating and a $6.00 price objective on the stock. ValuEngine raised Ensco Plc from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Bank of America Corporation cut Ensco Plc from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $7.00 to $5.00 in a research report on Friday, June 30th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Ensco Plc has an average rating of “Hold” and a consensus target price of $8.63.
Shares of Ensco Plc (ESV) traded down 3.40% during trading on Thursday, reaching $5.12. 22,032,098 shares of the company traded hands. Ensco Plc has a 12-month low of $4.10 and a 12-month high of $12.04. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 32.00 and a beta of 1.75. The company has a 50 day moving average price of $5.33 and a 200 day moving average price of $6.01.
Ensco Plc (NYSE:ESV) last released its quarterly earnings data on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping 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 company had revenue of $457.50 million during the quarter, compared to the consensus estimate of $453.48 million. During the same period last year, the company earned $2.04 EPS. Ensco Plc’s revenue for the quarter was down 49.7% on a year-over-year basis. On average, equities analysts predict that Ensco Plc will post ($0.38) EPS for the current year.
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Institutional investors have recently made changes to their positions in the business. GWM Advisors LLC purchased a new stake in shares of Ensco Plc in the 2nd quarter worth $107,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Ensco Plc in the 2nd quarter worth $116,000. Riverhead Capital Management LLC lifted its holdings in shares of Ensco Plc by 94.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 23,905 shares of the offshore drilling services provider’s stock worth $123,000 after buying an additional 11,605 shares during the period. Hellman Jordan Management Co. Inc. MA purchased a new stake in shares of Ensco Plc in the 2nd quarter worth $126,000. Finally, LS Investment Advisors LLC lifted its holdings in shares of Ensco Plc by 19.5% in the 2nd quarter. LS Investment Advisors LLC now owns 24,804 shares of the offshore drilling services provider’s stock worth $128,000 after buying an additional 4,039 shares during the period. 91.56% of the stock is currently owned by institutional investors.
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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