An issue of Ensco Plc (NYSE:ESV) debt fell 1.3% against its face value during trading on Thursday. The high-yield debt issue has a 4.5% coupon and is set to mature on October 1, 2024. The bonds in the issue are now trading at $82.50 and were trading at $84.75 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
Several brokerages have commented on ESV. Jefferies Group LLC dropped their price target on Ensco Plc from $12.00 to $11.50 and set a “hold” rating on the stock in a research report on Wednesday, March 1st. Capital One Financial Corp. raised Ensco Plc from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 24th. Credit Suisse Group AG set a $15.00 price target on Ensco Plc and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Scotiabank set a $13.00 price target on Ensco Plc and gave the stock a “buy” rating in a research report on Wednesday, March 22nd. Finally, Evercore ISI lifted their price target on Ensco Plc from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, March 3rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Ensco Plc currently has a consensus rating of “Hold” and an average target price of $11.30.
Shares of Ensco Plc (NYSE:ESV) opened at 7.47 on Friday. The company has a 50-day moving average price of $8.20 and a 200 day moving average price of $9.38. Ensco Plc has a 52 week low of $6.49 and a 52 week high of $12.04. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 3.28 and a beta of 1.74.
Ensco Plc (NYSE:ESV) last posted its earnings results on Thursday, April 27th. The offshore drilling services provider reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The company had revenue of $471.10 million during the quarter, compared to analyst estimates of $468.78 million. Ensco Plc had a negative net margin of 52.28% and a positive return on equity of 8.58%. Analysts expect that Ensco Plc will post ($0.26) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. ZWJ Investment Counsel Inc. raised its stake in Ensco Plc by 1.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 11,635 shares of the offshore drilling services provider’s stock worth $104,000 after buying an additional 180 shares in the last quarter. Smith Salley & Associates purchased a new stake in Ensco Plc during the fourth quarter worth $111,000. Creative Planning raised its stake in Ensco Plc by 4.8% in the first quarter. Creative Planning now owns 13,135 shares of the offshore drilling services provider’s stock worth $118,000 after buying an additional 601 shares in the last quarter. First Manhattan Co. raised its stake in Ensco Plc by 72.6% in the first quarter. First Manhattan Co. now owns 14,260 shares of the offshore drilling services provider’s stock worth $121,000 after buying an additional 6,000 shares in the last quarter. Finally, Tyers Asset Management LLC raised its stake in Ensco Plc by 2.7% in the first quarter. Tyers Asset Management LLC now owns 13,748 shares of the offshore drilling services provider’s stock worth $123,000 after buying an additional 364 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
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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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