Ensco (ESV) Debt Trading 1.3% Higher

An issue of Ensco Plc (NYSE:ESV) bonds rose 1.3% as a percentage of their face value during trading on Wednesday. The debt issue has a 4.5% coupon and will mature on October 1, 2024. The debt is now trading at $84.50 and was trading at $82.25 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

ESV has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on Ensco in a report on Friday, October 13th. They set a “buy” rating and a $8.00 price objective for the company. initiated coverage on Ensco in a report on Thursday, October 19th. They set a “buy” rating and a $7.30 price objective for the company. Nordea Equity Research reiterated a “buy” rating and set a $8.00 price objective on shares of Ensco in a report on Saturday, September 30th. UBS upgraded Ensco from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.00 to $8.00 in a report on Monday, September 25th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $6.10 price objective on shares of Ensco in a report on Sunday, October 22nd. Five analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Ensco has an average rating of “Hold” and a consensus target price of $8.24.

Ensco Plc (NYSE:ESV) traded down $0.15 during midday trading on Wednesday, hitting $5.58. The company had a trading volume of 12,572,297 shares, compared to its average volume of 14,575,883. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.04 and a current ratio of 5.04. Ensco Plc has a 52-week low of $4.10 and a 52-week high of $12.04.

Ensco (NYSE:ESV) last released its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.11. Ensco had a negative return on equity of 0.37% and a negative net margin of 3.04%. The firm had revenue of $460.00 million for the quarter, compared to the consensus estimate of $457.79 million. During the same period in the prior year, the firm earned $0.28 EPS. The firm’s revenue was down 16.1% on a year-over-year basis. analysts expect that Ensco Plc will post -0.53 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, December 1st. Ensco’s payout ratio is -21.05%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESV. Private Advisor Group LLC acquired a new position in shares of Ensco in the 3rd quarter valued at $100,000. GWM Advisors LLC acquired a new stake in Ensco during the 2nd quarter worth about $107,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Ensco during the 2nd quarter worth about $116,000. Harvest Management LLC acquired a new stake in Ensco during the 3rd quarter worth about $119,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Ensco during the 3rd quarter worth about $121,000. 76.88% of the stock is currently owned by hedge funds and other institutional investors.

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Ensco Company Profile

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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