Ensco Rowan (NYSE:ESV) Reaches New 12-Month Low at $7.62

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Ensco Rowan PLC (NYSE:ESV) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $7.62 and last traded at $7.63, with a volume of 1353777 shares trading hands. The stock had previously closed at $7.83.

ESV has been the topic of a number of recent research reports. Piper Jaffray Companies set a $16.00 price target on Ensco Rowan and gave the company a “hold” rating in a research report on Tuesday, April 23rd. HSBC raised Ensco Rowan from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Friday, March 8th. Barclays set a $5.00 price objective on Ensco Rowan and gave the stock a “sell” rating in a report on Wednesday, February 20th. Wells Fargo & Co reissued a “buy” rating on shares of Ensco Rowan in a report on Friday, March 1st. Finally, Societe Generale set a $5.00 price objective on Ensco Rowan and gave the stock a “hold” rating in a report on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.05.

The company has a debt-to-equity ratio of 0.64, a current ratio of 2.34 and a quick ratio of 2.34.

Ensco Rowan (NYSE:ESV) last released its quarterly earnings results on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) earnings per share for the quarter, beating the consensus estimate of ($1.79) by $0.10. Ensco Rowan had a negative return on equity of 7.65% and a negative net margin of 40.72%. The firm had revenue of $405.90 million for the quarter, compared to analysts’ expectations of $405.12 million. During the same quarter last year, the firm posted ($0.32) EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Ensco Rowan PLC will post -5.14 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC purchased a new stake in shares of Ensco Rowan in the 1st quarter valued at about $28,000. Quantamental Technologies LLC bought a new position in shares of Ensco Rowan during the 4th quarter valued at about $36,000. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Ensco Rowan during the 4th quarter valued at about $38,000. Piedmont Investment Advisors Inc. bought a new position in shares of Ensco Rowan during the 4th quarter valued at about $41,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Ensco Rowan by 149.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,493 shares of the offshore drilling services provider’s stock valued at $45,000 after purchasing an additional 6,882 shares during the last quarter.

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Ensco Rowan Company Profile (NYSE:ESV)

Ensco Rowan plc provides offshore drilling services in various water depths worldwide. It operates a rig fleet of ultra-deepwater drillships, versatile semisubmersibles, and modern shallow-water jackups. The company's offshore fleet include 16 drillships, 12 semisubmersibles, 54 jackups, and 2 deepwater managed units.

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