Ensco (ESV) Given a $6.00 Price Target at Jefferies Group

Jefferies Group set a $6.00 price objective on Ensco (NYSE:ESV) in a research report sent to investors on Thursday. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.

A number of other brokerages have also weighed in on ESV. BMO Capital Markets set a $5.00 target price on Ensco and gave the company a hold rating in a research report on Tuesday, October 17th. B. Riley reaffirmed a neutral rating on shares of Ensco in a research report on Wednesday, November 1st. Zacks Investment Research raised Ensco from a sell rating to a hold rating in a research report on Tuesday, October 24th. ValuEngine lowered Ensco from a hold rating to a sell rating in a research report on Monday, October 2nd. Finally, FBR & Co reissued a hold rating on shares of Ensco in a research report on Thursday, October 19th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $8.24.

Shares of Ensco (NYSE:ESV) traded up $0.37 during midday trading on Thursday, reaching $7.08. The company’s stock had a trading volume of 14,705,672 shares, compared to its average volume of 11,710,000. The company has a current ratio of 5.04, a quick ratio of 5.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $3,090.00, a price-to-earnings ratio of -30.78 and a beta of 1.82. Ensco has a 1-year low of $4.10 and a 1-year high of $12.04.

Ensco (NYSE:ESV) last issued its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.11. The business had revenue of $460.00 million during the quarter, compared to analyst estimates of $457.79 million. Ensco had a negative return on equity of 0.37% and a negative net margin of 3.04%. Ensco’s revenue was down 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. equities research analysts anticipate that Ensco will post -0.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 4th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, December 1st. This represents a $0.04 annualized dividend and a yield of 0.56%. Ensco’s dividend payout ratio (DPR) is -17.39%.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Ensco by 25.3% during the 2nd quarter. BlackRock Inc. now owns 32,777,289 shares of the offshore drilling services provider’s stock worth $169,130,000 after buying an additional 6,612,735 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Ensco by 170.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,775,071 shares of the offshore drilling services provider’s stock worth $86,564,000 after buying an additional 10,568,874 shares during the last quarter. Capital International Investors grew its stake in Ensco by 49.1% during the 3rd quarter. Capital International Investors now owns 15,811,810 shares of the offshore drilling services provider’s stock worth $94,397,000 after buying an additional 5,205,307 shares during the last quarter. Capital Guardian Trust Co. grew its stake in Ensco by 22.9% during the 3rd quarter. Capital Guardian Trust Co. now owns 13,074,290 shares of the offshore drilling services provider’s stock worth $78,054,000 after buying an additional 2,437,145 shares during the last quarter. Finally, State Street Corp grew its stake in Ensco by 1.6% during the 2nd quarter. State Street Corp now owns 12,112,020 shares of the offshore drilling services provider’s stock worth $62,497,000 after buying an additional 192,165 shares during the last quarter. Hedge funds and other institutional investors own 76.80% of the company’s stock.

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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.

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