Ensco Rowan (NYSE:ESV) Stock Price Down 0.9%

Ensco Rowan PLC (NYSE:ESV) shares dropped 0.9% on Friday . The stock traded as low as $8.99 and last traded at $8.96, approximately 100,044 shares changed hands during trading. A decline of 99% from the average daily volume of 6,750,087 shares. The stock had previously closed at $9.04.

ESV has been the subject of several recent research reports. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Royal Bank of Canada decreased their target price on shares of Just Energy Group from C$5.50 to C$5.00 and set a “sector perform” rating for the company in a research note on Friday, May 17th. Bank of America set a $77.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays reiterated a “buy” rating on shares of NXP Semiconductors in a research note on Sunday, May 5th. Finally, Piper Jaffray Companies set a $29.00 target price on shares of OptiNose and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $10.05.

The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market cap of $1.90 billion, a PE ratio of -1.66 and a beta of 2.22. The business’s 50-day moving average price is $8.23.

Ensco Rowan (NYSE:ESV) last announced its quarterly earnings data on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.79) by $0.10. Ensco Rowan had a negative net margin of 40.72% and a negative return on equity of 7.65%. The firm had revenue of $405.90 million during the quarter, compared to the consensus estimate of $405.12 million. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts predict that Ensco Rowan PLC will post -5.18 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Stevens Capital Management LP grew its stake in Ensco Rowan by 13.6% in the 1st quarter. Stevens Capital Management LP now owns 85,944 shares of the offshore drilling services provider’s stock worth $338,000 after acquiring an additional 10,313 shares during the period. Retirement Systems of Alabama grew its stake in Ensco Rowan by 0.4% in 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 acquiring an additional 2,448 shares during the period. Private Advisor Group LLC grew its stake in Ensco Rowan by 95.1% in the 4th quarter. Private Advisor Group LLC now owns 22,300 shares of the offshore drilling services provider’s stock worth $79,000 after acquiring an additional 10,871 shares during the period. Magnus Financial Group LLC purchased a new stake in Ensco Rowan in the 4th quarter worth approximately $64,000. Finally, Sippican Capital Advisors grew its stake in Ensco Rowan by 15.9% in the 1st quarter. Sippican Capital Advisors now owns 228,958 shares of the offshore drilling services provider’s stock worth $900,000 after acquiring an additional 31,455 shares during the period.

About Ensco Rowan (NYSE:ESV)

Ensco Rowan plc provides offshore drilling services in various water depths worldwide. It operates a rig fleet of ultra-deepwater drillships, versatile semisubmersibles, and modern shallow-water jackups. The company's offshore fleet include 16 drillships, 12 semisubmersibles, 54 jackups, and 2 deepwater managed units.

See Also: Why Dividend Stocks May Be Right for You

Receive News & Ratings for Ensco Rowan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ensco Rowan and related companies with MarketBeat.com's FREE daily email newsletter.