Ensco (ESV) Trading Down 12%

Ensco Plc (NYSE:ESV)’s share price dropped 12% during trading on Thursday . The company traded as low as $5.75 and last traded at $5.11. Approximately 14,611,014 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 13,305,095 shares. The stock had previously closed at $5.81.

ESV has been the topic of a number of analyst reports. Barclays lifted their price target on Ensco from $4.00 to $5.00 and gave the stock an “underweight” rating in a research note on Thursday, August 9th. ValuEngine raised Ensco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th. DNB Markets cut Ensco from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. BTIG Research initiated coverage on Ensco in a research note on Monday, September 17th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $8.00 price target on shares of Ensco in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.74.

The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.54 billion, a PE ratio of -9.78 and a beta of 1.78.

Ensco (NYSE:ESV) last posted its earnings results on Monday, October 29th. The offshore drilling services provider reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.02. Ensco had a negative return on equity of 5.98% and a negative net margin of 36.53%. The firm had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $424.66 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, analysts anticipate that Ensco Plc will post -1.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Monday, December 3rd will be given a dividend of $0.01 per share. The ex-dividend date is Friday, November 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.78%. Ensco’s dividend payout ratio is presently -7.69%.

In related news, VP Steven Joseph Brady sold 4,500 shares of Ensco stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $6.22, for a total transaction of $27,990.00. Following the sale, the vice president now directly owns 314,864 shares in the company, valued at $1,958,454.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Timber Hill LLC bought a new stake in shares of Ensco during the third quarter valued at approximately $106,000. Wetherby Asset Management Inc. bought a new stake in shares of Ensco during the third quarter valued at approximately $107,000. Vanguard Capital Wealth Advisors bought a new stake in shares of Ensco during the second quarter valued at approximately $111,000. Deprince Race & Zollo Inc. bought a new stake in shares of Ensco during the third quarter valued at approximately $127,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Ensco during the third quarter valued at approximately $129,000. Institutional investors own 96.71% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was first posted by WKRB News and is the sole property of of WKRB News. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://www.wkrb13.com/2018/12/06/ensco-esv-trading-down-12.html.

About Ensco (NYSE:ESV)

Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. It operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet of 65 rigs, including 32 located in the Middle East, Africa, and the Asia Pacific, which comprise 3 rigs under construction; 14 located in North and South America, such as Brazil; and 19 located in Europe and the Mediterranean.

Featured Story: Google Finance Portfolio Tips and Tricks

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.

Leave a Reply