Ensco (ESV) Receives New Coverage from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Ensco (NYSE:ESV) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage issued an overweight rating and a $25.00 price target on the offshore drilling services provider’s stock.

A number of other research analysts have also recently issued reports on ESV. Citigroup began coverage on shares of Ensco in a report on Thursday, April 11th. They issued a neutral rating for the company. UBS Group set a $6.00 price target on shares of Ensco and gave the stock a buy rating in a report on Thursday, December 20th. Societe Generale set a $5.00 price target on shares of Ensco and gave the stock a hold rating in a report on Tuesday, March 26th. ValuEngine raised shares of Ensco from a buy rating to a strong-buy rating in a report on Thursday, April 11th. Finally, Credit Suisse Group reaffirmed a buy rating and issued a $6.00 price target on shares of Ensco in a report on Monday, January 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average price target of $8.53.

NYSE:ESV opened at $15.26 on Tuesday. Ensco has a 52 week low of $12.76 and a 52 week high of $38.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.48 and a quick ratio of 2.48. The company has a market cap of $1.62 billion, a P/E ratio of -2.85 and a beta of 2.16.

Ensco (NYSE:ESV) last posted its earnings results on Wednesday, February 27th. The offshore drilling services provider reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.01). Ensco had a negative net margin of 37.51% and a negative return on equity of 6.95%. The firm had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $404.69 million. During the same period in the previous year, the company earned ($0.23) EPS. The company’s revenue was down 12.1% on a year-over-year basis. As a group, equities analysts anticipate that Ensco will post -5.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, March 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. Ensco’s dividend payout ratio (DPR) is presently -2.99%.

Several institutional investors have recently modified their holdings of ESV. Quantamental Technologies LLC purchased a new position in shares of Ensco during the fourth quarter worth $36,000. Hellman Jordan Management Co. Inc. MA purchased a new position in shares of Ensco during the fourth quarter worth $38,000. Leavell Investment Management Inc. acquired a new stake in Ensco during the fourth quarter valued at $39,000. Piedmont Investment Advisors Inc. acquired a new stake in Ensco during the fourth quarter valued at $41,000. Finally, First Allied Advisory Services Inc. acquired a new stake in Ensco during the fourth quarter valued at $49,000. 98.83% of the stock is owned by hedge funds and other institutional investors.

Ensco Company Profile

Ensco Plc engages in the provision of offshore contract drilling services to the international oil and gas industry. It operates its business through the following segments: Floaters, Jackups, and Others. The Floaters segment includes drill ships and semisubmersible rigs. The Jackups segment offers contract drilling service.

See Also: What is the return on assets formula?

Analyst Recommendations for Ensco (NYSE:ESV)

Receive News & Ratings for Ensco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ensco and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit