5.87 0.00 (0.00%)
After hours: 5:02PM EDT
|Bid||5.46 x 28000|
|Ask||5.90 x 1800|
|Day's range||5.83 - 6.02|
|52-week range||3.14 - 6.84|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Noble Corp. (NE) delivered earnings and revenue surprises of -6.52% and 0.21%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
The London-based company said it had a loss of $2.55 per share. Losses, adjusted for one-time gains and costs, were 49 cents per share. The results missed Wall Street expectations. The average estimate ...
On July 26, after Ensco (ESV) released its second-quarter results, Jefferies raised the company’s target price to $6.5 from $6 and maintained a “hold” rating on the stock. Earlier in the month, Susquehanna raised Ensco’s target price to $7 from $5.
In Week 30, which ended July 27, Transocean (RIG) released its quarterly fleet status report. A fleet status report includes contract information, drilling status, and planned out-of-service time for every rig. The fleet status report showed new contracts and extensions.
Rowan Companies (RDC) is set to release its second-quarter results tomorrow (August 1) before the markets open. Let’s see what analysts expect.
Transocean (RIG) released its second-quarter results yesterday after the markets closed. The company earned revenue of $790 million—3.18% higher than Reuters’s analyst estimate of $75.6 million. Revenues were 11.1% higher year-over-year and 26% higher sequentially. Transocean’s revenue was supported by higher revenue efficiency and utilization for the company’s ultra-deepwater fleet. Revenue efficiency rose to 97.4% in Q2 2018, compared to 91.5% in the prior quarter.
Ensco’s (ESV) operating cash flows represent the cash flows from its core operations. In the first half of 2018, Ensco had negative cash flows from operations of $18 million—compared to its positive cash flow of ~$130.5 million in the first half of 2017. Ensco’s capex for the first half of 2018 was $331.9 million, which included $277.7 million in a payment towards new rig construction.
In the previous two parts, we analyzed Ensco’s (ESV) revenues and costs. In this part, we’ll see where the company’s EBITDA could be heading.
As of June 30, Ensco (ESV) had a total contracted backlog of $2.3 billion—compared to $2.8 billion as of December 31, 2017. The decline in the company’s backlog was due to realized revenues during the first quarter—partially offset by contract extensions and new contract awards.
Ensco (ESV) expects its third-quarter revenues to be $425 million—a decrease of 7% sequentially. Lower revenues are expected due to the completion of Ensco’s contract on ENSCO 6001 and ENSCO MS-1. The lower revenues are also due to the idle period for ENSCO DS-12 before starting another contract.
Transocean (RIG) is set to release its second-quarter results today after the markets close. Let’s see what analysts expect.
Of the 29 analysts covering Ensco (ESV), 45% are bullish on the stock—three analysts recommend a “strong buy” and ten analysts recommend a “buy” for the stock. About 41% of the analysts are neutral on Ensco—12 analysts recommend a “hold.” The remaining 14% or four analysts recommend a “sell.”
Ensco (ESV) released its quarterly fleet status report on July 19. In this part, we’ll discuss the developments in Ensco’s contracts. Ensco 8503 secured a 100-day contract with Talos Energy in the US Gulf of Mexico.
Ensco (ESV) is scheduled to release its second-quarter earnings on July 26. The company’s second-quarter revenues are expected to be ~$447.6 million. In the second quarter of 2017, Ensco reported revenues of $457.5 million. So, Ensco’s second-quarter revenues are expected to be 2.16% lower year-over-year and 6% higher sequentially.
Ensco (ESV) stock had a really bad patch for three years. The stock fell almost 95% in 2015. The stock’s value fell 36% in 2016 and more than 39% in 2017. Ensco stock is finally trading in the green in 2018. As of July 24, Ensco has a YTD (year-to-date) return of 14.2%. The stock has risen 25% in the past year.
Rowan Companies (RDC) released its quarterly fleet status report on July 20. A fleet status report includes contract information, drilling status, and planned out-of-service time for every rig. Let’s look in detail at that report and compare it to the fleet status report in April.
In this series, we’ve looked at analysts’ recommendations for Diamond Offshore Drilling, Ensco, Transocean, and Noble. In this part, we’ll conclude the series with a look at analysts’ recommendations and earnings estimates for Rowan Companies (RDC) in Q2 2018.
Analysts’ consensus rating for Transocean (RIG) is 2.66, which means a “hold” on a scale of 1 (“strong buy”) to 5 (“strong sell”). Their ratings for peer offshore drilling stocks (IYE) are as follows: Noble (NE): 3.2, “hold” Diamond Offshore Drilling (DO): 3.46, “hold” Rowan Companies (RDC): 2.48, “hold” Ensco (ESV): 2.59, “hold”
Of the 28 analysts covering Diamond Offshore Drilling (DO), only 14% recommend some form of “buy,” ~40% recommend “hold,” and 46% recommend “sell.” Diamond Offshore has the lowest percentage of “buy” recommendations among the top offshore drilling stocks (XLE). About 45% of analysts covering Rowan Companies (RDC) and Ensco (ESV) recommend “buy,” and 23% recommend “‘buy” for Noble (NE). Analysts’ 12-month target price of $15.04 for DO implies a 22.35% downside to its July 19 market price of $19.37.
Previously, we saw analysts’ recommendations and Q2 2018 earnings estimates for Ensco (ESV). In this part, we’ll look at analysts’ views on Noble (NE).
Of the 29 analysts covering Ensco (ESV), 45% recommend some form of “buy,” ~41% recommend “hold,” and 14% recommend “sell.” Their 12-month target price of $6.72 for Ensco implies a 3.38% downside to its July 19 market price of $6.95. In comparison, ~45%, 14%, and 23% of analysts covering Rowan Companies (RDC), Diamond Offshore Drilling (DO), and Noble (NE) recommend “buy,” respectively.