FY2017 EPS Estimates for ENSCO PLC (ESV) Cut by Analyst
ENSCO PLC (NYSE:ESV) – Research analysts at Capital One Financial Corporation lowered their FY2017 earnings per share estimates for shares of ENSCO PLC in a research report issued to clients and investors on Thursday. Capital One Financial Corporation analyst J. Gibney now expects that the offshore drilling services provider will post earnings per share of ($0.40) for the year, down from their prior estimate of ($0.36). Capital One Financial Corporation also issued estimates for ENSCO PLC’s Q4 2017 earnings at ($0.11) EPS, Q1 2018 earnings at ($0.15) EPS, Q2 2018 earnings at ($0.11) EPS and FY2018 earnings at ($0.65) EPS.
ESV has been the subject of several other reports. FBR & Co dropped their price target on ENSCO PLC from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Nordea Equity Research restated a “buy” rating and issued a $8.00 target price on shares of ENSCO PLC in a report on Saturday, September 30th. Zacks Investment Research cut ENSCO PLC from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Deutsche Bank AG began coverage on ENSCO PLC in a report on Tuesday, October 10th. They issued a “hold” rating and a $6.00 target price for the company. Finally, ValuEngine upgraded ENSCO PLC from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.47.
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ENSCO PLC (NYSE ESV) opened at 5.39 on Monday. The company has a market capitalization of $1.64 billion, a P/E ratio of 33.69 and a beta of 1.75. The stock’s 50 day moving average price is $5.43 and its 200-day moving average price is $5.79. ENSCO PLC has a 52-week low of $4.10 and a 52-week high of $12.04.
ENSCO PLC (NYSE:ESV) last posted its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.11. The firm had revenue of $460.00 million during the quarter, compared to the consensus estimate of $457.79 million. ENSCO PLC had a negative return on equity of 0.37% and a negative net margin of 3.04%. The company’s quarterly revenue was down 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cipher Capital LP increased its holdings in ENSCO PLC by 98.4% during the 2nd quarter. Cipher Capital LP now owns 466,177 shares of the offshore drilling services provider’s stock worth $2,405,000 after purchasing an additional 231,157 shares during the period. Contrarius Investment Management Ltd increased its holdings in ENSCO PLC by 114.5% during the 2nd quarter. Contrarius Investment Management Ltd now owns 7,638,005 shares of the offshore drilling services provider’s stock worth $39,412,000 after purchasing an additional 4,077,861 shares during the period. First Trust Advisors LP increased its holdings in ENSCO PLC by 209.0% during the 2nd quarter. First Trust Advisors LP now owns 1,116,657 shares of the offshore drilling services provider’s stock worth $5,762,000 after purchasing an additional 755,250 shares during the period. South Dakota Investment Council increased its holdings in ENSCO PLC by 19.1% during the 2nd quarter. South Dakota Investment Council now owns 487,200 shares of the offshore drilling services provider’s stock worth $2,514,000 after purchasing an additional 78,100 shares during the period. Finally, BlueMountain Capital Management LLC increased its holdings in ENSCO PLC by 66.4% during the 2nd quarter. BlueMountain Capital Management LLC now owns 799,721 shares of the offshore drilling services provider’s stock worth $4,127,000 after purchasing an additional 319,031 shares during the period. Institutional investors own 91.56% of the company’s stock.
About ENSCO PLC
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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