Ensco (ESV) Upgraded by HSBC to “Buy”

HSBC upgraded shares of Ensco (NYSE:ESV) from a hold rating to a buy rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has $7.00 price objective on the offshore drilling services provider’s stock.

A number of other analysts have also recently weighed in on the company. DNB Markets upgraded Ensco from a hold rating to a buy rating in a research report on Wednesday, January 9th. BTIG Research lowered their price target on Ensco from $18.00 to $14.00 and set an average rating on the stock in a research report on Thursday, December 20th. Wells Fargo & Co reiterated a buy rating on shares of Ensco in a research report on Tuesday, December 11th. Jefferies Financial Group reiterated a hold rating and issued a $4.00 price target on shares of Ensco in a research report on Friday, December 28th. Finally, ValuEngine upgraded Ensco from a hold rating to a buy rating in a research report on Thursday, December 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. Ensco presently has a consensus rating of Hold and a consensus target price of $7.33.

Shares of NYSE:ESV opened at $4.11 on Friday. Ensco has a fifty-two week low of $3.19 and a fifty-two week high of $9.51. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -3.07 and a beta of 2.20. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.60.

Ensco (NYSE:ESV) last announced its quarterly earnings results on Thursday, February 28th. The offshore drilling services provider reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). Ensco had a negative net margin of 36.53% and a negative return on equity of 5.98%. The company had revenue of $399.00 million during the quarter, compared to the consensus estimate of $404.69 million. During the same quarter last year, the company earned ($0.23) earnings per share. The business’s revenue was down 12.1% on a year-over-year basis. As a group, research analysts predict that Ensco will post -1.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Monday, March 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, March 8th. Ensco’s payout ratio is presently -2.99%.

Hedge funds have recently made changes to their positions in the company. Willis Investment Counsel grew its holdings in shares of Ensco by 1.6% during the third quarter. Willis Investment Counsel now owns 1,190,620 shares of the offshore drilling services provider’s stock worth $10,049,000 after purchasing an additional 19,235 shares during the last quarter. Capital International Investors lifted its stake in shares of Ensco by 4.4% during the third quarter. Capital International Investors now owns 20,147,782 shares of the offshore drilling services provider’s stock valued at $170,047,000 after acquiring an additional 846,997 shares during the period. Hosking Partners LLP lifted its stake in shares of Ensco by 8.6% during the fourth 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. Tower Research Capital LLC TRC lifted its stake in shares of Ensco by 459.5% during the third quarter. Tower Research Capital LLC TRC now owns 56,366 shares of the offshore drilling services provider’s stock valued at $476,000 after acquiring an additional 46,292 shares during the period. Finally, Capital Guardian Trust Co. lifted its stake in shares of Ensco by 6.7% during the third quarter. Capital Guardian Trust Co. now owns 14,829,552 shares of the offshore drilling services provider’s stock valued at $125,161,000 after acquiring an additional 935,572 shares during the period. Institutional investors own 98.28% of the company’s stock.

Ensco Company Profile

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.

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Analyst Recommendations for Ensco (NYSE:ESV)

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