Jefferies Reiterates a Hold Rating on Ensco Plc

In a report released today, Brad Handler from Jefferies reiterated a Hold rating on Ensco Plc (NYSE: ESV). The company’s shares closed yesterday at $7.98, close to its 52-week low of $7.25.

According to, Handler is ranked 0 out of 5 stars with an average return of -6.8% and a 46.6% success rate. Handler covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Basic Energy Services.

Currently, the analyst consensus on Ensco Plc is Moderate Sell and the average price target is $8.60, representing a 7.8% upside.

In a report issued on August 25, Citigroup also maintained a Hold rating on the stock with a $9 price target.

Based on Ensco Plc`s latest earnings report from March 31, the company posted quarterly revenue of $814M and quarterly net profit of $175.3M. In comparison, last year the company earned revenue of $1.06B and had a net profit of $260.3M.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2015, James Swent, a the EVP of ESV sold 50,000 shares for a total of $1,136,500.

Ensco Plc provides offshore drilling services to the petroleum industry. The company provides drilling services to major international, government-owned and independent oil and gas companies. It operates its business through the following segments: Floaters, Jackups and Others. The Floaters segment includes drill ships and semisubmersible rigs. The Jackups segment engages in providing contract drilling service. The Others segment consists of management services on rigs owned by third-parties. Ensco was founded on July 3, 1905 and is headquartered in London, the United Kingdom.