An issue of Ensco Plc (NYSE:ESV) bonds rose 1.6% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 5.2% coupon and is set to mature on March 15, 2025. The debt is now trading at $90.00 and was trading at $89.13 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
A number of equities analysts recently weighed in on ESV shares. Goldman Sachs Group Inc downgraded shares of Ensco Plc from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Friday, December 16th. Jefferies Group LLC reissued a “hold” rating and set a $9.50 target price on shares of Ensco Plc in a research note on Friday, December 23rd. Bank of America Corp raised shares of Ensco Plc from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $8.00 to $14.00 in a research note on Monday, January 9th. Citigroup Inc raised shares of Ensco Plc from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $15.00 in a research note on Wednesday, January 11th. Finally, BMO Capital Markets set a $9.00 target price on shares of Ensco Plc and gave the stock a “hold” rating in a research note on Thursday, January 12th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $11.38.
Shares of Ensco Plc (NYSE:ESV) traded down 4.47% on Thursday, hitting $8.33. 10,419,105 shares of the stock were exchanged. Ensco Plc has a 12 month low of $6.50 and a 12 month high of $12.36. The company has a 50-day moving average price of $9.05 and a 200 day moving average price of $9.46. The company has a market cap of $2.52 billion, a PE ratio of 2.66 and a beta of 1.74.
Ensco Plc (NYSE:ESV) last posted its quarterly earnings results on Monday, February 27th. The offshore drilling services provider reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. Ensco Plc had a negative net margin of 52.28% and a positive return on equity of 8.58%. The company earned $505 million during the quarter, compared to analyst estimates of $505.61 million. During the same period in the prior year, the business posted ($10.64) EPS. The firm’s revenue was down 39.0% compared to the same quarter last year. Equities analysts forecast that Ensco Plc will post ($0.20) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Monday, March 6th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, March 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.48%. Ensco Plc’s dividend payout ratio is currently -0.53%.
A number of large investors have recently bought and sold shares of ESV. State Street Corp increased its stake in Ensco Plc by 6.8% in the fourth quarter. State Street Corp now owns 13,190,556 shares of the offshore drilling services provider’s stock worth $128,208,000 after buying an additional 840,523 shares during the period. BlackRock Fund Advisors increased its stake in Ensco Plc by 4.5% in the third quarter. BlackRock Fund Advisors now owns 11,958,458 shares of the offshore drilling services provider’s stock worth $101,647,000 after buying an additional 511,713 shares during the period. Renaissance Technologies LLC increased its stake in Ensco Plc by 13.1% in the fourth quarter. Renaissance Technologies LLC now owns 10,559,160 shares of the offshore drilling services provider’s stock worth $102,635,000 after buying an additional 1,221,638 shares during the period. Alyeska Investment Group L.P. increased its stake in Ensco Plc by 488.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,817,738 shares of the offshore drilling services provider’s stock worth $56,548,000 after buying an additional 4,828,991 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in Ensco Plc by 18.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 5,466,454 shares of the offshore drilling services provider’s stock worth $46,465,000 after buying an additional 850,000 shares during the period. Institutional investors own 88.70% of the company’s stock.
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Ensco Plc Company Profile
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.
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