Thursday, January 20, 2011

ENSCO International (NYSE:ESV) EPS Estimates Lowered on Fleet Report

ENSCO International (NYSE:ESV) had their EPS estimates lowered by FBR for full year 2010 and 2011, based on their recently released fleet status report.

FBR says, "We are revising our estimates for ESV based on new information contained in the company's January 2011 fleet status report. Although our estimates came down slightly for 2011 due to previously unscheduled maintenance and mobilization time, they do not depart from our thesis...Estimates for FY 2010 change to $3.54 from $3.55, and for FY 2011, they change to $4.25 from $4.37. FY 2012 increased by $0.01 to $5.36 from $5.35."

FBR Capital reiterates an "Outperform" rating on ENSCO International Plc (ESV), which closed Wednesday at $52.61, losing $1.26, or 2.34 percent. FBR raised their price target on ENSCO from $59 to $70.

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