Ensco (ESV) Given a $6.00 Price Target by Cowen Analysts
Ensco (NYSE:ESV) has been assigned a $6.00 target price by equities researchers at Cowen in a research note issued on Thursday. The firm currently has a “hold” rating on the offshore drilling services provider’s stock. Cowen’s target price points to a potential downside of 19.25% from the stock’s previous close.
Several other research analysts also recently commented on ESV. UBS Group raised shares of Ensco from a “neutral” rating to a “buy” rating and raised their price target for the stock from $6.00 to $8.00 in a research note on Monday, September 25th. Nordea Equity Research reaffirmed a “buy” rating and issued a $8.00 price target on shares of Ensco in a research note on Saturday, September 30th. ValuEngine downgraded shares of Ensco from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Deutsche Bank initiated coverage on shares of Ensco in a research note on Tuesday, October 10th. They issued a “hold” rating and a $6.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Ensco from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.91.
Shares of Ensco (NYSE:ESV) traded up $0.07 on Thursday, hitting $7.43. 10,600,832 shares of the stock traded hands, compared to its average volume of 11,521,318. Ensco has a 1-year low of $4.10 and a 1-year high of $12.04. The stock has a market capitalization of $4,221.87, a P/E ratio of -39.11 and a beta of 1.82. The company has a current ratio of 5.04, a quick ratio of 5.04 and a debt-to-equity ratio of 0.58.
Ensco (NYSE:ESV) last posted its quarterly earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.11. The company had revenue of $460.00 million for the quarter, compared to the consensus estimate of $457.79 million. Ensco had a negative net margin of 3.04% and a negative return on equity of 0.37%. The firm’s revenue was down 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. sell-side analysts forecast that Ensco will post -0.51 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ESV. Private Advisor Group LLC purchased a new position in Ensco during the 3rd quarter valued at about $100,000. GWM Advisors LLC purchased a new position in Ensco during the 2nd quarter valued at about $107,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Ensco in the 2nd quarter valued at about $116,000. Harvest Management LLC bought a new stake in shares of Ensco in the 3rd quarter valued at about $119,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Ensco in the 3rd quarter valued at about $121,000. 76.80% of the stock is currently owned by institutional investors and hedge funds.
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Ensco 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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