Ensco Rowan PLC (ESV) Expected to Post Quarterly Sales of $590.13 Million

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Equities research analysts predict that Ensco Rowan PLC (NYSE:ESV) will report sales of $590.13 million for the current quarter, according to Zacks. Four analysts have made estimates for Ensco Rowan’s earnings, with the highest sales estimate coming in at $613.20 million and the lowest estimate coming in at $581.00 million. Ensco Rowan reported sales of $458.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 28.7%. The firm is expected to announce its next earnings report on Wednesday, July 24th.

On average, analysts expect that Ensco Rowan will report full year sales of $2.25 billion for the current year, with estimates ranging from $2.19 billion to $2.32 billion. For the next financial year, analysts expect that the business will post sales of $2.70 billion, with estimates ranging from $2.53 billion to $2.99 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Ensco Rowan.

Ensco Rowan (NYSE:ESV) last posted its quarterly earnings results on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.79) by $0.10. The company had revenue of $405.90 million for the quarter, compared to the consensus estimate of $405.12 million. Ensco Rowan had a negative net margin of 40.72% and a negative return on equity of 7.65%. Ensco Rowan’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) earnings per share.

A number of brokerages have recently commented on ESV. Zacks Investment Research raised shares of Ensco Rowan from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Friday. Citigroup set a $13.00 target price on shares of Ensco Rowan and gave the company a “hold” rating in a research note on Friday, May 17th. Royal Bank of Canada began coverage on shares of Ensco Rowan in a research note on Friday, May 17th. They issued an “outperform” rating and a $15.00 target price on the stock. Barclays reissued a “sell” rating and issued a $13.00 target price on shares of Ensco Rowan in a research note on Sunday, May 5th. Finally, ValuEngine downgraded shares of Ensco Rowan from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Two 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 presently has an average rating of “Hold” and a consensus target price of $10.17.

NYSE:ESV traded down $0.22 during trading hours on Friday, reaching $8.63. 7,700,774 shares of the company were exchanged, compared to its average volume of 4,193,458. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.70 billion, a P/E ratio of -1.61 and a beta of 2.09. Ensco Rowan has a 52-week low of $8.48 and a 52-week high of $38.04.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESV. Elephas Investment Management Ltd grew its holdings in Ensco Rowan by 1,573.7% during the 4th quarter. Elephas Investment Management Ltd now owns 8,859,379 shares of the offshore drilling services provider’s stock worth $31,539,000 after acquiring an additional 8,330,054 shares in the last quarter. Ruffer LLP acquired a new position in Ensco Rowan during the 4th quarter worth $24,890,000. Manikay Partners LLC acquired a new position in Ensco Rowan during the 4th quarter worth $15,219,000. Norges Bank acquired a new position in Ensco Rowan during the 4th quarter worth $13,875,000. Finally, Van ECK Associates Corp grew its holdings in Ensco Rowan by 76.7% during the 4th quarter. Van ECK Associates Corp now owns 8,364,454 shares of the offshore drilling services provider’s stock worth $29,777,000 after acquiring an additional 3,629,804 shares in the last quarter.

Ensco Rowan Company Profile

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.

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Earnings History and Estimates for Ensco Rowan (NYSE:ESV)

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