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Ensco's 2Q17 Results Are around the Corner—What to Expect

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Part 5
Ensco's 2Q17 Results Are around the Corner—What to Expect PART 5 OF 5

Recent Analyst Changes in Ensco’s Recommendations

Article focus

So far in this series, we’ve looked at what Wall Street analysts expect for Ensco’s (ESV) revenues and EBITDA.1 Now, let’s look at what analysts recommend for Ensco stock.

Recent Analyst Changes in Ensco&#8217;s Recommendations

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Recent changes

On July 7, 2017, Wells Fargo reduced the target price for Ensco to $6.00 from $10.50. On June 30, 2017, Bank of America Merrill Lynch downgraded the stock to “neutral.” Earlier in June, other analysts revised their target prices for Ensco:

  • Susquehanna cut the target price to $5.00 from $9.00.
  • Piper Jaffray upgraded Ensco to “overweight” from “neutral.”

Consensus rating

According to Reuters, Ensco has a consensus rating of ~2.7, which means a “hold.” The following are consensus ratings for other offshore drilling companies (XLE):

  • Noble Corporation (NE) – ~3.1, which means a “hold.”
  • Seadrill (SDRL) – ~3.6, which means a “sell.”
  • Diamond Offshore Drilling (DO) – ~3.2, which means a “hold.”
  • Atwood Oceanics (ATW) – ~3.0, which means a “hold.”

Consensus recommendations

Of the 28 analysts covering Ensco, three analysts gave “strong buy” recommendations, while eight analysts gave “buy” recommendations. Eleven analysts gave the company a “hold” recommendation. Six analysts suggested a “sell” for Ensco, and none of the analysts suggested a “strong sell” for the company.

Ensco’s average target price is $8.97, compared to its current market price of $5.09 on July 12, 2017. The target price implies a potential upside of 75.2%.

  1. earnings before interest, tax, depreciation, and amortization
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