Ensco (ESV) Trading Down 7.7%

Shares of Ensco Plc (NYSE:ESV) dropped 7.7% on Thursday . The company traded as low as $6.91 and last traded at $6.93. Approximately 12,890,430 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 13,321,231 shares. The stock had previously closed at $7.51.

ESV has been the topic of a number of analyst reports. ValuEngine raised shares of Ensco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $9.00 target price on shares of Ensco in a research report on Tuesday, October 9th. BTIG Research started coverage on shares of Ensco in a research report on Monday, September 17th. They issued a “buy” rating and a $10.00 target price for the company. Wells Fargo & Co upgraded shares of Ensco from a “market perform” rating to an “outperform” rating and set a $11.00 target price for the company in a research report on Tuesday, October 9th. Finally, Societe Generale upgraded shares of Ensco from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.89.

The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -13.33 and a beta of 1.83.

Ensco (NYSE:ESV) last posted its quarterly earnings data on Monday, October 29th. The offshore drilling services provider reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.02. Ensco had a negative net margin of 36.53% and a negative return on equity of 5.98%. The company had revenue of $431.00 million during the quarter, compared to analyst estimates of $424.66 million. During the same quarter last year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Ensco Plc will post -1.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.58%. Ensco’s dividend payout ratio (DPR) is -7.69%.

Large investors have recently bought and sold shares of the company. Keybank National Association OH purchased a new stake in Ensco during the third quarter valued at about $570,000. Timber Hill LLC purchased a new stake in Ensco during the third quarter valued at about $106,000. Commonwealth Bank of Australia lifted its stake in Ensco by 54.8% during the third quarter. Commonwealth Bank of Australia now owns 295,272 shares of the offshore drilling services provider’s stock valued at $2,487,000 after buying an additional 104,500 shares in the last quarter. First Mercantile Trust Co. lifted its stake in Ensco by 324.1% during the third quarter. First Mercantile Trust Co. now owns 24,597 shares of the offshore drilling services provider’s stock valued at $208,000 after buying an additional 18,797 shares in the last quarter. Finally, Wetherby Asset Management Inc. purchased a new stake in Ensco during the third quarter valued at about $107,000. Institutional investors own 98.91% of the company’s stock.

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Ensco Company Profile (NYSE:ESV)

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.

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