Ensco Plc (NYSE:ESV) – Research analysts at Piper Jaffray Companies reduced their FY2018 earnings estimates for Ensco in a research note issued to investors on Sunday, November 4th. Piper Jaffray Companies analyst I. Macpherson now forecasts that the offshore drilling services provider will earn ($1.42) per share for the year, down from their previous forecast of ($1.38). Piper Jaffray Companies currently has a “Hold” rating and a $9.00 target price on the stock. Piper Jaffray Companies also issued estimates for Ensco’s Q4 2018 earnings at ($0.40) EPS, Q1 2019 earnings at ($0.37) EPS, Q2 2019 earnings at ($0.30) EPS, Q3 2019 earnings at ($0.34) EPS, Q4 2019 earnings at ($0.38) EPS, FY2019 earnings at ($1.39) EPS, FY2020 earnings at ($0.91) EPS and FY2021 earnings at $0.14 EPS.
Ensco (NYSE:ESV) last released its quarterly earnings results on Monday, October 29th. The offshore drilling services provider reported ($0.33) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.02. Ensco had a negative net margin of 36.53% and a negative return on equity of 5.98%. The business had revenue of $431.00 million for the quarter, compared to the consensus estimate of $424.66 million. During the same period in the prior year, the company posted ($0.05) earnings per share. Ensco’s revenue was down 6.3% compared to the same quarter last year.
Shares of Ensco stock opened at $7.40 on Wednesday. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -14.23 and a beta of 1.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.58 and a current ratio of 2.58. Ensco has a 12-month low of $4.10 and a 12-month high of $9.51.
A number of institutional investors have recently made changes to their positions in ESV. FMR LLC increased its position in shares of Ensco by 6.9% during the second quarter. FMR LLC now owns 34,395,479 shares of the offshore drilling services provider’s stock valued at $249,712,000 after buying an additional 2,213,621 shares during the period. Dimensional Fund Advisors LP lifted its position in Ensco by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 30,453,455 shares of the offshore drilling services provider’s stock valued at $221,091,000 after purchasing an additional 368,448 shares during the last quarter. Majedie Asset Management Ltd lifted its position in Ensco by 7.2% in the third quarter. Majedie Asset Management Ltd now owns 18,197,587 shares of the offshore drilling services provider’s stock valued at $153,588,000 after purchasing an additional 1,225,730 shares during the last quarter. Contrarius Investment Management Ltd lifted its position in Ensco by 22.8% in the second quarter. Contrarius Investment Management Ltd now owns 14,709,917 shares of the offshore drilling services provider’s stock valued at $106,794,000 after purchasing an additional 2,730,330 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Ensco in the second quarter valued at approximately $92,724,000. Institutional investors and hedge funds own 98.91% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Monday, December 3rd will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.54%. Ensco’s dividend payout ratio is currently -7.69%.
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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