Ensco (ESV) Upgraded by DNB Markets to Hold

DNB Markets upgraded shares of Ensco (NYSE:ESV) from a sell rating to a hold rating in a report released on Tuesday morning, The Fly reports.

Other research analysts also recently issued research reports about the stock. Barclays increased their price target on shares of Ensco from $4.00 to $5.00 and gave the company an underweight rating in a report on Thursday, August 9th. Piper Jaffray Companies reaffirmed a hold rating and issued a $9.00 price target on shares of Ensco in a report on Tuesday, October 9th. Susquehanna Bancshares set a $8.00 price target on shares of Ensco and gave the company a hold rating in a report on Friday, July 27th. ValuEngine downgraded shares of Ensco from a buy rating to a hold rating in a report on Wednesday, July 25th. Finally, Societe Generale raised shares of Ensco from a hold rating to a buy rating in a report on Friday, October 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ensco has a consensus rating of Hold and a consensus target price of $8.65.

Shares of NYSE:ESV traded up $0.36 during trading on Tuesday, reaching $7.33. The company’s stock had a trading volume of 6,729,211 shares, compared to its average volume of 12,551,155. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.59. Ensco has a 12 month low of $4.10 and a 12 month high of $9.51. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -14.10 and a beta of 1.86.

Ensco (NYSE:ESV) last announced its quarterly earnings results on Monday, October 29th. The offshore drilling services provider reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.02. Ensco had a negative net margin of 36.53% and a negative return on equity of 5.93%. The firm had revenue of $431.00 million during the quarter, compared to the consensus estimate of $424.66 million. During the same quarter last year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Ensco will post -1.35 EPS for the current year.

A number of institutional investors have recently bought and sold shares of ESV. Vanguard Capital Wealth Advisors purchased a new stake in Ensco in the 2nd quarter worth about $111,000. Deprince Race & Zollo Inc. purchased a new stake in Ensco in the 3rd quarter worth about $127,000. Essex Investment Management Co. LLC purchased a new stake in Ensco in the 3rd quarter worth about $129,000. Clear Harbor Asset Management LLC purchased a new stake in Ensco in the 2nd quarter worth about $131,000. Finally, Murphy Capital Management Inc. purchased a new stake in Ensco in the 2nd quarter worth about $155,000. 98.02% of the stock is currently owned by institutional investors.

About Ensco

Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. It operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet of 65 rigs, including 32 located in the Middle East, Africa, and the Asia Pacific, which comprise 3 rigs under construction; 14 located in North and South America, such as Brazil; and 19 located in Europe and the Mediterranean.

Recommended Story: Conference Calls

The Fly

Analyst Recommendations for Ensco (NYSE:ESV)

Receive News & Ratings for Ensco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ensco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply