Ensco Plc (ESV) Receives “Hold” Rating from BMO Capital Markets

Ensco Plc (NYSE:ESV)‘s stock had its “hold” rating restated by equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Tuesday, July 11th. They presently have a $4.75 price target on the offshore drilling services provider’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 10.21% from the stock’s current price.

A number of other research analysts also recently weighed in on ESV. Jefferies Group LLC reiterated a “hold” rating and set a $11.00 target price (down previously from $11.50) on shares of Ensco Plc in a report on Tuesday, April 11th. Barclays PLC reiterated a “sell” rating and set a $8.00 target price on shares of Ensco Plc in a report on Thursday, April 27th. Tudor Pickering initiated coverage on Ensco Plc in a report on Thursday, March 23rd. They set a “hold” rating on the stock. Scotiabank set a $13.00 target price on Ensco Plc and gave the stock a “buy” rating in a report on Wednesday, March 22nd. Finally, Clarkson Capital upgraded Ensco Plc from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Tuesday, May 30th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. Ensco Plc currently has an average rating of “Hold” and a consensus price target of $9.63.

Shares of Ensco Plc (NYSE ESV) traded down 1.86% during trading on Tuesday, reaching $5.29. The company’s stock had a trading volume of 28,240,271 shares. Ensco Plc has a 52 week low of $4.71 and a 52 week high of $12.04. The company has a market cap of $1.61 billion, a PE ratio of 2.32 and a beta of 1.64. The stock’s 50 day moving average price is $5.42 and its 200 day moving average price is $8.17.

Ensco Plc (NYSE:ESV) last announced its quarterly earnings results on Wednesday, July 26th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Ensco Plc had a return on equity of 3.07% and a net margin of 28.32%. The company had revenue of $457.50 million for the quarter, compared to the consensus estimate of $453.48 million. During the same quarter in the previous year, the business earned $2.04 EPS. Ensco Plc’s revenue was down 49.7% compared to the same quarter last year. Equities research analysts predict that Ensco Plc will post ($0.29) EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new position in shares of Ensco Plc during the first quarter worth $297,000. Louisiana State Employees Retirement System raised its position in shares of Ensco Plc by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 76,500 shares of the offshore drilling services provider’s stock worth $685,000 after buying an additional 1,600 shares during the last quarter. Fox Run Management L.L.C. raised its position in shares of Ensco Plc by 14.0% in the first quarter. Fox Run Management L.L.C. now owns 20,300 shares of the offshore drilling services provider’s stock worth $182,000 after buying an additional 2,500 shares during the last quarter. Bank of Montreal Can raised its position in shares of Ensco Plc by 114.2% in the first quarter. Bank of Montreal Can now owns 285,780 shares of the offshore drilling services provider’s stock worth $2,558,000 after buying an additional 152,389 shares during the last quarter. Finally, Creative Planning increased its position in shares of Ensco Plc by 4.8% in the first quarter. Creative Planning now owns 13,135 shares of the offshore drilling services provider’s stock worth $118,000 after buying an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Ensco Plc 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.

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