Ensco (ESV) Upgraded to Strong-Buy by ValuEngine

Ensco (NYSE:ESV) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, April 11th, ValuEngine reports.

Several other equities analysts also recently issued reports on ESV. Citigroup began coverage on shares of Ensco in a report on Thursday, April 11th. They set a “neutral” rating on the stock. B. Riley decreased their price objective on shares of Ensco from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. Societe Generale downgraded shares of Ensco from a “buy” rating to a “hold” rating and set a $3.60 price objective on the stock. in a report on Wednesday, December 19th. Credit Suisse Group reaffirmed a “buy” rating and set a $6.00 price objective on shares of Ensco in a report on Monday, January 14th. Finally, UBS Group set a $6.00 price target on shares of Ensco and gave the stock a “buy” rating in a research note on Thursday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Ensco has a consensus rating of “Hold” and a consensus target price of $8.96.

ESV stock traded up $0.69 during midday trading on Thursday, hitting $13.21. 6,390,136 shares of the stock traded hands, compared to its average volume of 3,832,313. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.48 and a current ratio of 2.48. The firm has a market cap of $1.44 billion, a PE ratio of -2.46 and a beta of 2.09. Ensco has a 1-year low of $11.85 and a 1-year high of $38.04.

Ensco (NYSE:ESV) last posted its quarterly earnings data on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.79) by $0.10. The business had revenue of $405.90 million for the quarter, compared to the consensus estimate of $405.12 million. Ensco had a negative net margin of 37.51% and a negative return on equity of 6.95%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. Research analysts predict that Ensco will post -5.94 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Stevens Capital Management LP raised its stake in Ensco by 13.6% during the first quarter. Stevens Capital Management LP now owns 85,944 shares of the offshore drilling services provider’s stock worth $338,000 after purchasing an additional 10,313 shares during the period. Texas Permanent School Fund raised its stake in Ensco by 3.8% during the first quarter. Texas Permanent School Fund now owns 296,879 shares of the offshore drilling services provider’s stock worth $1,167,000 after purchasing an additional 10,846 shares during the period. Comerica Bank raised its stake in Ensco by 1.3% during the first quarter. Comerica Bank now owns 274,091 shares of the offshore drilling services provider’s stock worth $1,088,000 after purchasing an additional 3,446 shares during the period. Pearl River Capital LLC purchased a new position in Ensco during the first quarter worth about $70,000. Finally, Rhumbline Advisers raised its stake in Ensco by 2.8% during the first quarter. Rhumbline Advisers now owns 769,536 shares of the offshore drilling services provider’s stock worth $3,024,000 after purchasing an additional 20,644 shares during the period.

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: Book Value Per Share – BVPS

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Analyst Recommendations for Ensco (NYSE:ESV)

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