ValuEngine Lowers Ensco Plc (ESV) to Sell

ValuEngine cut shares of Ensco Plc (NYSE:ESV) from a hold rating to a sell rating in a report published on Wednesday.

Several other research analysts have also weighed in on the company. BMO Capital Markets reiterated a hold rating and set a $4.75 target price on shares of Ensco Plc in a report on Tuesday, July 11th. Jefferies Group LLC set a $9.00 target price on Ensco Plc and gave the stock a hold rating in a report on Saturday, July 1st. Bank of America Corporation lowered Ensco Plc from a neutral rating to an underperform rating and reduced their target price for the stock from $7.00 to $5.00 in a report on Friday, June 30th. BidaskClub lowered Ensco Plc from a sell rating to a strong sell rating in a report on Thursday, June 22nd. Finally, Seaport Global Securities lowered Ensco Plc from a neutral rating to a sell rating and reduced their target price for the stock from $6.50 to $4.00 in a report on Wednesday, June 21st. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $9.79.

Ensco Plc (NYSE:ESV) traded up 1.641% on Wednesday, reaching $5.265. The company had a trading volume of 7,488,006 shares. Ensco Plc has a 12 month low of $4.71 and a 12 month high of $12.04. The firm has a 50 day moving average price of $6.35 and a 200-day moving average price of $8.84. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 2.311 and a beta of 1.64.

Ensco Plc (NYSE:ESV) last posted its quarterly earnings results on Thursday, April 27th. The offshore drilling services provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The business had revenue of $471.10 million for the quarter, compared to analyst estimates of $468.78 million. Ensco Plc had a return on equity of 3.07% and a net margin of 28.32%. Analysts forecast that Ensco Plc will post ($0.24) earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in ESV. BlackRock Inc. boosted its stake in Ensco Plc by 10,624.9% in the first quarter. BlackRock Inc. now owns 26,164,554 shares of the offshore drilling services provider’s stock valued at $234,173,000 after buying an additional 25,920,593 shares during the last quarter. FMR LLC boosted its stake in Ensco Plc by 969.0% in the first quarter. FMR LLC now owns 14,705,005 shares of the offshore drilling services provider’s stock valued at $131,610,000 after buying an additional 13,329,369 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Ensco Plc by 657.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,206,197 shares of the offshore drilling services provider’s stock valued at $55,544,000 after buying an additional 5,387,049 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Ensco Plc by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 5,559,625 shares of the offshore drilling services provider’s stock valued at $49,758,000 after buying an additional 376,733 shares during the last quarter. Finally, Norges Bank acquired a new stake in Ensco Plc during the fourth quarter valued at $50,907,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ensco Plc (NYSE:ESV)

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