Seaport Global Securities Comments on Ensco Plc’s FY2017 Earnings (ESV)

Ensco Plc (NYSE:ESV) – Seaport Global Securities issued their FY2017 earnings per share (EPS) estimates for Ensco in a report issued on Wednesday. Seaport Global Securities analyst M. Urban expects that the offshore drilling services provider will post earnings of ($0.50) per share for the year. Seaport Global Securities also issued estimates for Ensco’s Q4 2017 earnings at ($0.26) EPS, Q1 2018 earnings at ($0.25) EPS, Q2 2018 earnings at ($0.20) EPS, Q3 2018 earnings at ($0.20) EPS, Q4 2018 earnings at ($0.11) EPS, FY2018 earnings at ($0.77) EPS, Q1 2019 earnings at ($0.10) EPS, Q2 2019 earnings at ($0.10) EPS, Q3 2019 earnings at ($0.13) EPS and FY2019 earnings at ($0.45) EPS.

Ensco (NYSE:ESV) last posted its quarterly earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.11. The business had revenue of $460.00 million during the quarter, compared to analysts’ expectations of $457.79 million. Ensco had a negative net margin of 3.04% and a negative return on equity of 0.37%. The business’s quarterly revenue was down 16.1% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share.

A number of other equities research analysts have also recently commented on ESV. B. Riley restated a “neutral” rating on shares of Ensco in a report on Wednesday, November 1st. ValuEngine lowered shares of Ensco from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. UBS Group raised shares of Ensco from a “neutral” rating to a “buy” rating and raised their price objective for the company from $6.00 to $8.00 in a research note on Monday, September 25th. Nordea Equity Research reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Ensco in a research note on Saturday, September 30th. Finally, BMO Capital Markets set a $5.00 price objective on shares of Ensco and gave the company a “hold” rating in a research note on Tuesday, October 17th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $8.24.

Shares of Ensco (NYSE:ESV) opened at $5.68 on Monday. The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $2,480.00, a price-to-earnings ratio of -24.70 and a beta of 1.82. Ensco has a twelve month low of $4.10 and a twelve month high of $12.04.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESV. Private Advisor Group LLC bought a new position in shares of Ensco during the third quarter valued at about $100,000. GWM Advisors LLC bought a new stake in Ensco in the second quarter worth about $107,000. Raymond James Financial Services Advisors Inc. bought a new stake in Ensco in the second quarter worth about $116,000. Harvest Management LLC bought a new stake in Ensco in the third quarter worth about $119,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Ensco in the third quarter worth about $121,000. 76.80% of the stock is currently owned by institutional investors.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 4th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, December 1st. Ensco’s payout ratio is currently -17.39%.

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About Ensco

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.

Earnings History and Estimates for Ensco (NYSE:ESV)

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