BMO Capital Markets Reaffirms Hold Rating for Ensco Plc (ESV)

Ensco Plc (NYSE:ESV)‘s stock had its “hold” rating reaffirmed by research analysts at BMO Capital Markets in a research report issued on Tuesday, July 11th. They currently have a $4.75 price target on the offshore drilling services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 3.04% from the company’s previous close.

Other analysts have also issued reports about the stock. Jefferies Group LLC set a $9.00 price target on shares of Ensco Plc and gave the stock a “hold” rating in a research report on Saturday, July 1st. Seaport Global Securities lowered shares of Ensco Plc from a “neutral” rating to a “sell” rating and cut their price objective for the company from $6.50 to $4.00 in a research report on Wednesday, June 21st. BidaskClub lowered shares of Ensco Plc from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Clarkson Capital raised shares of Ensco Plc from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Tuesday, May 30th. Finally, Piper Jaffray Companies raised shares of Ensco Plc from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $9.20 to $8.00 in a research report on Monday, June 19th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Ensco Plc currently has a consensus rating of “Hold” and a consensus target price of $9.64.

Ensco Plc (ESV) opened at 4.61 on Tuesday. The company’s 50 day moving average is $5.21 and its 200-day moving average is $7.67. The stock has a market cap of $1.40 billion, a PE ratio of 28.81 and a beta of 1.64. Ensco Plc has a 52-week low of $4.33 and a 52-week high of $12.04.

Ensco Plc (NYSE:ESV) last posted its quarterly earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $457.50 million during the quarter, compared to analyst estimates of $453.48 million. Ensco Plc had a net margin of 2.68% and a return on equity of 0.77%. The firm’s revenue was down 49.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 earnings per share. On average, equities analysts anticipate that Ensco Plc will post ($0.37) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESV. ZWJ Investment Counsel Inc. boosted its position in Ensco Plc by 1.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 11,635 shares of the offshore drilling services provider’s stock worth $104,000 after buying an additional 180 shares in the last quarter. Creative Planning boosted its position in Ensco Plc by 4.8% in the first quarter. Creative Planning now owns 13,135 shares of the offshore drilling services provider’s stock worth $118,000 after buying an additional 601 shares in the last quarter. First Manhattan Co. boosted its position in Ensco Plc by 72.6% in the first quarter. First Manhattan Co. now owns 14,260 shares of the offshore drilling services provider’s stock worth $121,000 after buying an additional 6,000 shares in the last quarter. Tyers Asset Management LLC boosted its position in Ensco Plc by 2.7% in the first quarter. Tyers Asset Management LLC now owns 13,748 shares of the offshore drilling services provider’s stock worth $123,000 after buying an additional 364 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its position in Ensco Plc by 94.3% in the second quarter. Riverhead Capital Management LLC now owns 23,905 shares of the offshore drilling services provider’s stock worth $123,000 after buying an additional 11,605 shares in the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

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.

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