Jefferies Financial Group Weighs in on Ensco Plc’s Q1 2019 Earnings (ESV)

Ensco Plc (NYSE:ESV) – Analysts at Jefferies Financial Group issued their Q1 2019 earnings estimates for Ensco in a research report issued on Wednesday, April 17th, Zacks Investment Research reports. Jefferies Financial Group analyst E. Royes expects that the offshore drilling services provider will post earnings per share of ($1.92) for the quarter. Jefferies Financial Group also issued estimates for Ensco’s Q2 2019 earnings at ($1.29) EPS, Q3 2019 earnings at ($1.24) EPS, Q4 2019 earnings at ($1.34) EPS, FY2019 earnings at ($5.79) EPS, FY2020 earnings at ($5.00) EPS, FY2021 earnings at ($2.10) EPS and FY2022 earnings at ($0.20) EPS.

Ensco (NYSE:ESV) last posted its earnings results on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.79) by $0.10. The company had revenue of $405.90 million during the quarter, compared to analyst estimates of $405.12 million. Ensco had a negative return on equity of 7.65% and a negative net margin of 40.72%. Ensco’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) earnings per share.

Several other analysts have also commented on ESV. Barclays reiterated a “sell” rating and set a $13.00 price objective on shares of Ensco in a report on Sunday, May 5th. Citigroup assumed coverage on Ensco in a report on Thursday, April 11th. They set a “neutral” rating for the company. ValuEngine upgraded Ensco from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Morgan Stanley assumed coverage on Ensco in a report on Tuesday, April 16th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, B. Riley decreased their price objective on Ensco from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $9.46.

Ensco stock traded down $0.43 during mid-day trading on Friday, reaching $11.71. 6,621,341 shares of the company were exchanged, compared to its average volume of 6,489,199. Ensco has a 12-month low of $11.44 and a 12-month high of $38.04. The company has a quick ratio of 2.48, a current ratio of 2.34 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.28 billion, a P/E ratio of -2.18 and a beta of 2.09.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hosking Partners LLP increased its position in shares of Ensco by 8.6% in the 4th quarter. Hosking Partners LLP now owns 2,528,562 shares of the offshore drilling services provider’s stock valued at $9,002,000 after acquiring an additional 200,387 shares during the period. Retirement Systems of Alabama grew its position in Ensco by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 569,178 shares of the offshore drilling services provider’s stock worth $2,237,000 after purchasing an additional 2,448 shares during the period. Private Advisor Group LLC grew its position in Ensco by 95.1% during the 4th quarter. Private Advisor Group LLC now owns 22,300 shares of the offshore drilling services provider’s stock worth $79,000 after purchasing an additional 10,871 shares during the period. Alps Advisors Inc. grew its position in Ensco by 14.8% during the 4th quarter. Alps Advisors Inc. now owns 154,509 shares of the offshore drilling services provider’s stock worth $550,000 after purchasing an additional 19,862 shares during the period. Finally, Vanguard Group Inc grew its position in Ensco by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 38,680,474 shares of the offshore drilling services provider’s stock worth $326,463,000 after purchasing an additional 336,835 shares during the period.

About Ensco

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.

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Earnings History and Estimates for Ensco (NYSE:ESV)

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