Ensco (ESV) Bonds Rise 3.5% During Trading

An issue of Ensco Plc (NYSE:ESV) debt rose 3.5% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 7.875% coupon and will mature on August 15, 2040. The bonds in the issue are now trading at $90.50. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.

ESV has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Ensco from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. FBR & Co decreased their price target on shares of Ensco from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Piper Jaffray Companies reiterated a “buy” rating and issued a $6.10 price target on shares of Ensco in a research report on Sunday, October 22nd. Goldman Sachs Group initiated coverage on shares of Ensco in a research report on Friday, October 13th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Cowen set a $4.00 price target on shares of Ensco and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Ensco presently has a consensus rating of “Hold” and a consensus target price of $8.24.

Ensco Plc (NYSE ESV) traded up $0.21 on Thursday, reaching $6.82. 17,913,900 shares of the company traded hands, compared to its average volume of 11,510,000. The stock has a market capitalization of $2,970.00, a PE ratio of -29.65 and a beta of 1.82. Ensco Plc has a 52 week low of $4.10 and a 52 week high of $12.04. The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.58.

Ensco (NYSE:ESV) last posted its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.11. The company had revenue of $460.00 million during the quarter, compared to analysts’ expectations of $457.79 million. Ensco had a negative net margin of 3.04% and a negative return on equity of 0.37%. Ensco’s quarterly revenue was down 16.1% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. analysts anticipate that Ensco Plc will post -0.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 4th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, December 1st. This represents a $0.04 annualized dividend and a yield of 0.59%. Ensco’s payout ratio is -17.39%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Ensco by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,676 shares of the offshore drilling services provider’s stock valued at $246,000 after acquiring an additional 143 shares in the last quarter. Comerica Bank grew its stake in Ensco by 0.3% during the second quarter. Comerica Bank now owns 259,039 shares of the offshore drilling services provider’s stock valued at $1,386,000 after acquiring an additional 764 shares in the last quarter. MML Investors Services LLC grew its stake in Ensco by 1.6% during the second quarter. MML Investors Services LLC now owns 145,299 shares of the offshore drilling services provider’s stock valued at $750,000 after acquiring an additional 2,254 shares in the last quarter. Check Capital Management Inc. CA grew its stake in Ensco by 10.4% during the second quarter. Check Capital Management Inc. CA now owns 28,735 shares of the offshore drilling services provider’s stock valued at $148,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Messner & Smith Theme Value Investment Management Ltd. CA lifted its position in Ensco by 1.6% during the second quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 235,589 shares of the offshore drilling services provider’s stock valued at $1,215,000 after purchasing an additional 3,736 shares during the last quarter. 76.80% of the stock is owned by institutional investors.

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About Ensco

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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