Ensco Plc (ESV) Expected to Announce Quarterly Sales of $454.40 Million
Analysts expect that Ensco Plc (NYSE:ESV) will announce sales of $454.40 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Ensco Plc’s earnings. The lowest sales estimate is $439.00 million and the highest is $486.00 million. Ensco Plc reported sales of $548.20 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 17.1%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Ensco Plc will report full year sales of $454.40 million for the current year, with estimates ranging from $1.81 billion to $1.89 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.77 billion per share, with estimates ranging from $1.43 billion to $2.15 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Ensco Plc.
Ensco Plc (NYSE:ESV) last released its earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. The company had revenue of $457.50 million for the quarter, compared to analysts’ expectations of $453.48 million. Ensco Plc had a return on equity of 0.77% and a net margin of 2.68%. The business’s revenue for the quarter was down 49.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.04 EPS.
A number of research analysts have weighed in on ESV shares. Jefferies Group LLC set a $9.00 target price on Ensco Plc and gave the company a “hold” rating in a report on Saturday, July 1st. Piper Jaffray Companies reissued a “buy” rating and issued a $6.10 target price on shares of Ensco Plc in a report on Sunday. Seaport Global Securities reissued a “sell” rating on shares of Ensco Plc in a report on Wednesday, July 12th. HSBC Holdings plc started coverage on Ensco Plc in a report on Thursday. They issued a “buy” rating and a $7.30 target price on the stock. Finally, BMO Capital Markets reissued a “hold” rating and issued a $4.75 target price on shares of Ensco Plc in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.63.
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Institutional investors have recently made changes to their positions in the company. GWM Advisors LLC purchased a new position in shares of Ensco Plc in the 2nd quarter worth approximately $107,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Ensco Plc in the 2nd quarter worth approximately $116,000. Riverhead Capital Management LLC boosted 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 purchasing an additional 11,605 shares during the period. Hellman Jordan Management Co. Inc. MA purchased a new position in shares of Ensco Plc in the 2nd quarter worth approximately $126,000. Finally, LS Investment Advisors LLC boosted 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 purchasing an additional 4,039 shares during the period. Hedge funds and other institutional investors own 91.56% of the company’s stock.
Ensco Plc (ESV) traded down 3.40% during midday trading on Friday, hitting $5.12. The stock had a trading volume of 22,032,098 shares. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 32.00 and a beta of 1.75. The firm has a 50 day moving average of $5.33 and a 200 day moving average of $6.01. Ensco Plc has a 52 week low of $4.10 and a 52 week high of $12.04.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Monday, September 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Friday, September 8th. Ensco Plc’s dividend payout ratio (DPR) is 23.53%.
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.
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