Wells Fargo Thinks Ensco Plc’s Stock is Going to Recover

Wells Fargo analyst Judson Bailey maintained a Buy rating on Ensco Plc (ESV) today. The company’s shares closed yesterday at $4.10, close to its 52-week low of $3.19.

According to TipRanks.com, Bailey is a 1-star analyst with an average return of -1.3% and a 32.9% success rate. Bailey covers the Basic Materials sector, focusing on stocks such as Ncs Multistage Holdings Inc, Select Energy Services Inc, and C&J Energy Services Inc.

Currently, the analyst consensus on Ensco Plc is a Hold with an average price target of $4.72.

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Based on Ensco Plc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $145 million. In comparison, last year the company had a GAAP net loss of $207 million.

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Ensco Plc engages in the provision of 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.