Ensco Plc (ESV) Expected to Post Q1 2019 Earnings of ($0.59) Per Share

Ensco Plc (NYSE:ESV) – Capital One Financial lowered their Q1 2019 earnings estimates for shares of Ensco in a report issued on Tuesday, January 29th. Capital One Financial analyst L. Lemoine now anticipates that the offshore drilling services provider will earn ($0.59) per share for the quarter, down from their prior forecast of ($0.34). Capital One Financial also issued estimates for Ensco’s Q2 2019 earnings at ($0.55) EPS, Q3 2019 earnings at ($0.54) EPS, Q4 2019 earnings at ($0.51) EPS, FY2019 earnings at ($2.18) EPS and FY2020 earnings at ($1.98) EPS.

Get Ensco alerts:

Several other equities research analysts have also weighed in on the stock. BTIG Research dropped their price objective on shares of Ensco from $18.00 to $14.00 and set an “average” rating on the stock in a research note on Thursday, December 20th. DNB Markets upgraded shares of Ensco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Piper Jaffray Companies reiterated a “hold” rating and issued a $9.00 target price on shares of Ensco in a research report on Tuesday, October 9th. Societe Generale upgraded shares of Ensco from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Ensco in a research note on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Ensco has an average rating of “Hold” and a consensus price target of $7.50.

Shares of Ensco stock opened at $4.41 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.58 and a quick ratio of 2.58. Ensco has a twelve month low of $3.19 and a twelve month high of $9.51. The firm has a market cap of $1.92 billion, a P/E ratio of -8.48 and a beta of 2.07.

Ensco (NYSE:ESV) last issued its quarterly earnings data on Monday, October 29th. The offshore drilling services provider reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.02. Ensco had a negative return on equity of 5.98% and a negative net margin of 36.53%. The firm had revenue of $431.00 million during the quarter, compared to the consensus estimate of $424.66 million. During the same period in the previous year, the firm posted ($0.05) EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year.

In related news, VP Steven Joseph Brady sold 4,500 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $6.22, for a total transaction of $27,990.00. Following the sale, the vice president now directly owns 314,864 shares of the company’s stock, valued at $1,958,454.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.72% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in shares of Ensco in the 2nd quarter worth approximately $427,000. FMR LLC raised its position in shares of Ensco by 6.9% during the 2nd quarter. FMR LLC now owns 34,395,479 shares of the offshore drilling services provider’s stock worth $249,712,000 after purchasing an additional 2,213,621 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ensco by 40.2% during the 2nd quarter. Bank of America Corp DE now owns 523,093 shares of the offshore drilling services provider’s stock worth $3,798,000 after purchasing an additional 149,869 shares during the last quarter. Scout Investments Inc. acquired a new position in Ensco in the 3rd quarter valued at $17,860,000. Finally, Deprince Race & Zollo Inc. acquired a new position in Ensco in the 3rd quarter valued at $127,000. 96.31% of the stock is currently owned by institutional investors.

About Ensco

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.

Recommended Story: Retained Earnings