Susquehanna Bancshares Reiterates “$7.00” Price Target for Ensco (ESV)

Ensco (NYSE:ESV) has been assigned a $7.00 target price by Susquehanna Bancshares in a research note issued to investors on Friday. The firm currently has a “hold” rating on the offshore drilling services provider’s stock. Susquehanna Bancshares’ target price indicates a potential downside of 5.79% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Ensco from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. FBR & Co reduced their target price on shares of Ensco from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $6.10 target price on shares of Ensco in a research report on Sunday, October 22nd. Goldman Sachs Group initiated coverage on Ensco in a research note on Friday, October 13th. They issued a “buy” rating and a $8.00 price target for the company. Finally, Cowen set a $4.00 price target on Ensco and gave the company a “hold” rating in a research note on Wednesday, October 18th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Ensco presently has an average rating of “Hold” and a consensus target price of $7.91.

Shares of Ensco (ESV) traded up $0.07 during trading on Friday, hitting $7.43. 10,600,832 shares of the stock were exchanged, compared to its average volume of 11,521,318. The company has a market capitalization of $4,182.09, a PE ratio of -39.11 and a beta of 1.82. Ensco has a 52 week low of $4.10 and a 52 week high of $12.04. 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 (NYSE:ESV) last announced its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.11. The company had revenue of $460.00 million during the quarter, compared to analysts’ expectations of $457.79 million. Ensco had a negative net margin of 3.04% and a negative return on equity of 0.37%. Ensco’s quarterly revenue was down 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. equities analysts anticipate that Ensco will post -0.51 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its stake in Ensco by 43.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 86,300 shares of the offshore drilling services provider’s stock worth $510,000 after acquiring an additional 26,300 shares in the last quarter. GeoSphere Capital Management acquired a new position in Ensco during the third quarter worth about $2,090,000. Neuberger Berman Group LLC raised its stake in Ensco by 13,356.8% during the third quarter. Neuberger Berman Group LLC now owns 1,910,733 shares of the offshore drilling services provider’s stock worth $11,407,000 after acquiring an additional 1,896,534 shares in the last quarter. California Public Employees Retirement System raised its stake in Ensco by 16.2% during the third quarter. California Public Employees Retirement System now owns 1,247,939 shares of the offshore drilling services provider’s stock worth $7,450,000 after acquiring an additional 173,739 shares in the last quarter. Finally, Davidson Kempner Capital Management LP acquired a new position in Ensco during the third quarter worth about $11,995,000. 76.80% of the stock is owned by institutional investors and hedge funds.

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About Ensco

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.

Analyst Recommendations for Ensco (NYSE:ESV)