Ensco Plc (ESV) Given a $5.00 Price Target by BMO Capital Markets Analysts

Ensco Plc (NYSE:ESV) received a $5.00 price target from investment analysts at BMO Capital Markets in a research report issued to clients and investors on Tuesday. The brokerage currently has a “hold” rating on the offshore drilling services provider’s stock. BMO Capital Markets’ target price would indicate a potential downside of 7.06% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Ensco Plc from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Piper Jaffray Companies upgraded shares of Ensco Plc from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $9.20 to $8.00 in a report on Monday, June 19th. Bank of America Corporation cut shares of Ensco Plc from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Friday, June 30th. Seaport Global Securities reiterated a “sell” rating on shares of Ensco Plc in a report on Wednesday, July 12th. Finally, BidaskClub cut shares of Ensco Plc from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.09.

Ensco Plc (ESV) opened at 5.38 on Tuesday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 33.62 and a beta of 1.75. Ensco Plc has a 52-week low of $4.10 and a 52-week high of $12.04. The firm has a 50-day moving average price of $5.28 and a 200 day moving average price of $6.04.

Ensco Plc (NYSE:ESV) last issued its quarterly earnings data on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $457.50 million during the quarter, compared to analysts’ expectations of $453.48 million. Ensco Plc had a net margin of 2.68% and a return on equity of 0.77%. Ensco Plc’s revenue for the quarter was down 49.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 earnings per share. On average, equities research analysts predict that Ensco Plc will post ($0.38) EPS for the current year.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Cipher Capital LP raised its position in shares of Ensco Plc by 98.4% during the second quarter. Cipher Capital LP now owns 466,177 shares of the offshore drilling services provider’s stock valued at $2,405,000 after buying an additional 231,157 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Ensco Plc by 20.5% during the first quarter. Envestnet Asset Management Inc. now owns 37,896 shares of the offshore drilling services provider’s stock valued at $339,000 after buying an additional 6,436 shares during the last quarter. Contrarius Investment Management Ltd raised its position in shares of Ensco Plc by 114.5% during the second quarter. Contrarius Investment Management Ltd now owns 7,638,005 shares of the offshore drilling services provider’s stock valued at $39,412,000 after buying an additional 4,077,861 shares during the last quarter. First Trust Advisors LP raised its position in shares of Ensco Plc by 209.0% during the second quarter. First Trust Advisors LP now owns 1,116,657 shares of the offshore drilling services provider’s stock valued at $5,762,000 after buying an additional 755,250 shares during the last quarter. Finally, South Dakota Investment Council raised its position in shares of Ensco Plc by 19.1% during the second quarter. South Dakota Investment Council now owns 487,200 shares of the offshore drilling services provider’s stock valued at $2,514,000 after buying an additional 78,100 shares during the last quarter. 91.56% of the stock is owned by institutional investors and hedge funds.

Ensco Plc 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.

Analyst Recommendations for Ensco Plc (NYSE:ESV)

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