Jefferies Group Comments on Ensco Plc’s FY2017 Earnings (ESV)

Ensco Plc (NYSE:ESV) – Analysts at Jefferies Group lifted their FY2017 earnings per share estimates for Ensco in a research note issued on Wednesday. Jefferies Group analyst E. Royes now expects that the offshore drilling services provider will post earnings per share of ($0.45) for the year, up from their prior estimate of ($0.46). Jefferies Group has a “Hold” rating and a $6.00 price target on the stock. Jefferies Group also issued estimates for Ensco’s FY2019 earnings at ($0.95) EPS and FY2020 earnings at ($0.55) EPS.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Ensco from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. FBR & Co lowered their target price on Ensco from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Piper Jaffray Companies restated a “buy” rating and issued a $6.10 price objective on shares of Ensco in a report on Sunday, October 22nd. Goldman Sachs Group began coverage on Ensco in a report on Friday, October 13th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Cowen set a $4.00 price objective on Ensco and gave the company a “hold” rating in a report on Wednesday, October 18th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.52.

Ensco (ESV) opened at $4.92 on Friday. The stock has a market capitalization of $2,937.69, a PE ratio of -25.89 and a beta of 1.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.04 and a current ratio of 5.04. Ensco has a 1-year low of $4.10 and a 1-year high of $11.26.

A number of large investors have recently modified their holdings of the stock. LS Investment Advisors LLC lifted its stake in Ensco by 41.7% in the 4th quarter. LS Investment Advisors LLC now owns 33,905 shares of the offshore drilling services provider’s stock valued at $200,000 after purchasing an additional 9,970 shares during the last quarter. Creative Planning lifted its stake in Ensco by 70.5% in the 4th quarter. Creative Planning now owns 24,127 shares of the offshore drilling services provider’s stock valued at $143,000 after purchasing an additional 9,980 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Ensco by 46.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 33,031 shares of the offshore drilling services provider’s stock valued at $197,000 after purchasing an additional 10,493 shares during the last quarter. Wright Investors Service Inc. lifted its stake in Ensco by 63.0% in the 4th quarter. Wright Investors Service Inc. now owns 27,587 shares of the offshore drilling services provider’s stock valued at $163,000 after purchasing an additional 10,660 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ensco by 87.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,734 shares of the offshore drilling services provider’s stock worth $146,000 after acquiring an additional 11,514 shares during the last quarter. Institutional investors and hedge funds own 76.80% of the company’s stock.

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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.

Earnings History and Estimates for Ensco (NYSE:ESV)

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