Ensco PLC (ESV) to Post Q3 2016 Earnings of $0.10 Per Share, KeyCorp Forecasts

Ensco PLC (NYSE:ESV) – KeyCorp upped their Q3 2016 EPS estimates for shares of Ensco PLC in a research note issued on Friday. KeyCorp analyst R. Shoemaker now expects that the brokerage will earn $0.10 per share for the quarter, up from their prior estimate of $0.08. KeyCorp also issued estimates for Ensco PLC’s FY2017 earnings at $0.16 EPS.

Ensco PLC (NYSE:ESV) last posted its earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $1.51. Ensco PLC had a positive return on equity of 10.06% and a negative net margin of 39.67%. The firm had revenue of $910 million for the quarter, compared to the consensus estimate of $746.55 million. During the same quarter in the prior year, the business earned $1.11 EPS. The business’s revenue for the quarter was down 14.1% on a year-over-year basis.

Earnings History and Estimates for Ensco PLC (NYSE:ESV)

Other research analysts also recently issued reports about the stock. Evercore ISI restated a “buy” rating on shares of Ensco PLC in a research report on Wednesday, June 29th. Zephirin Group upgraded shares of Ensco PLC from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Monday, September 19th. Goldman Sachs Group Inc. upgraded shares of Ensco PLC from a “neutral” rating to a “buy” rating and set a $10.50 target price for the company in a research report on Wednesday, September 21st. Jefferies Group restated a “hold” rating on shares of Ensco PLC in a research report on Sunday, July 10th. Finally, Zacks Investment Research upgraded shares of Ensco PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Ensco PLC has a consensus rating of “Hold” and an average price target of $11.61.

Shares of Ensco PLC (NYSE:ESV) opened at 8.47 on Monday. Ensco PLC has a 1-year low of $6.50 and a 1-year high of $18.93. The company has a 50 day moving average price of $7.72 and a 200 day moving average price of $9.35. The stock’s market cap is $2.55 billion.

A number of hedge funds have recently bought and sold shares of ESV. Adage Capital Partners GP L.L.C. boosted its stake in Ensco PLC by 1.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,221,454 shares of the offshore drilling services provider’s stock valued at $54,146,000 after buying an additional 96,400 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Ensco PLC by 22.8% in the second quarter. Retirement Systems of Alabama now owns 388,607 shares of the offshore drilling services provider’s stock valued at $3,773,000 after buying an additional 72,280 shares in the last quarter. Springbok Capital Management LLC boosted its stake in Ensco PLC by 175.6% in the first quarter. Springbok Capital Management LLC now owns 25,150 shares of the offshore drilling services provider’s stock valued at $261,000 after buying an additional 16,026 shares in the last quarter. Hartford Investment Management Co. bought a new stake in Ensco PLC during the second quarter valued at about $190,000. Finally, Ameriprise Financial Inc. boosted its stake in Ensco PLC by 22.2% in the second quarter. Ameriprise Financial Inc. now owns 886,616 shares of the offshore drilling services provider’s stock valued at $8,609,000 after buying an additional 160,952 shares in the last quarter. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

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. The Company’s segments include Floaters, Jackups and Other. Its Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling.

5 Day Chart for NYSE:ESV

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