Jefferies Group Weighs in on Ensco Plc’s FY2017 Earnings (ESV)

Ensco Plc (NYSE:ESV) – Research analysts at Jefferies Group cut their FY2017 earnings per share estimates for shares of Ensco in a research report issued to clients and investors on Thursday. Jefferies Group analyst E. Royes now expects that the offshore drilling services provider will post earnings of ($0.46) per share for the year, down from their previous forecast of ($0.45). Jefferies Group has a “Hold” rating and a $6.00 price target on the stock. Jefferies Group also issued estimates for Ensco’s Q4 2017 earnings at ($0.28) EPS, FY2018 earnings at ($1.05) EPS, FY2019 earnings at ($0.90) EPS, FY2020 earnings at ($0.45) EPS and FY2021 earnings at $0.35 EPS.

ESV has been the subject of several other reports. FBR & Co reduced their price objective on Ensco from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Nordea Equity Research reaffirmed a “buy” rating and set a $8.00 price objective on shares of Ensco in a research report on Saturday, September 30th. Zacks Investment Research cut Ensco from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Deutsche Bank initiated coverage on Ensco in a research report on Tuesday, October 10th. They set a “hold” rating and a $6.00 price objective for the company. Finally, BMO Capital Markets set a $5.00 price objective on Ensco and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Ensco currently has a consensus rating of “Hold” and an average target price of $8.24.

Ensco (ESV) opened at $6.71 on Monday. 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 firm has a market capitalization of $2,930.00, a PE ratio of -29.17 and a beta of 1.82. Ensco has a 52-week low of $4.10 and a 52-week high of $12.04.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 4th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, December 1st. This represents a $0.04 annualized dividend and a yield of 0.60%. Ensco’s payout ratio is presently -17.39%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Ensco by 170.3% in the second quarter. Dimensional Fund Advisors LP now owns 16,775,071 shares of the offshore drilling services provider’s stock valued at $86,564,000 after buying an additional 10,568,874 shares during the period. Capital Guardian Trust Co. raised its stake in Ensco by 189.3% in the second quarter. Capital Guardian Trust Co. now owns 10,637,145 shares of the offshore drilling services provider’s stock valued at $54,888,000 after buying an additional 6,960,500 shares during the period. Capital International Investors raised its stake in Ensco by 181.5% in the second quarter. Capital International Investors now owns 10,606,503 shares of the offshore drilling services provider’s stock valued at $54,730,000 after buying an additional 6,838,484 shares during the period. BlackRock Inc. raised its stake in Ensco by 25.3% in the second quarter. BlackRock Inc. now owns 32,777,289 shares of the offshore drilling services provider’s stock valued at $169,130,000 after buying an additional 6,612,735 shares during the period. Finally, Scepter Holdings Inc. bought a new stake in Ensco in the second quarter valued at approximately $24,330,000. Institutional investors and hedge funds own 76.80% of the company’s stock.

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Ensco 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.

Earnings History and Estimates for Ensco (NYSE:ESV)

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