ENSCO plc (ESV) Coverage Resumed as Buy at Deutsche Bank

ENSCO plc (ESV) has been re-initiated today with coverage from the research analysts at Deutsche Bank.  Deutsche Bank begins this coverage resumption of ENSCO with a price target set at $64 dollars and rates performance of ESV as “buy.”  Deutsche Bank noted they are pleased with ENSCO’s acquisition of Pride International, Inc., a move that was made on May 31st, 2011.  The bank also pointed out a few notables regarding ESV which include that they have a more efficient balance sheet, growth and has made inroads to a whole new shareholder base as a liquid driller and believe the company should be traded at a premium.

Despite these positive notes that Deutsche Bank made today even with the ‘buy’ rating, shares of ESV are on a three day slide.  ESV has predominately been stuck within a consolidation channel with little definitive direction since the beginning of May, 2011.

ENSCO is slated to release their next earnings report on August 9th, 2011,  and is estimated to post EPS of 71 cents.  Their last earnings report was released on April 20th, 2011, and announced EPS of 45 cents with revenue totaling $361.5 million which was down -19.4 % year to year.  ESV is currently trading between its 50 & 200-day moving averages and 2011 is mostly break-even at this point.

ENSCO plc is a global offshore contract drilling company. As of February 15, 2011, their offshore rig fleet included 40 jackup rigs, five ultra-deepwater semisubmersible rigs and one barge rig. Additionally, they have three ultra-deepwater semisubmersible rigs and two ultra-high specification harsh environment jackup rigs under construction.  The company has market capitalization of $7,987,500,000 and 150,000,000 shares outstanding.  ESV has a 52-week high of $60.31 with the low being $36.53 dollars.

Pride International, Inc.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2017 Ticker Report. Google+.