Ensco (ESV), an offshore oil and natural gas driller, has already seen its shares exceed Goldman's projected $55, six-month price target, gaining 1.5% this year, after rising 3.5% over the past month. Its shares increased 36% in 2010.
Fourth-quarter earnings are due Feb. 24 and are estimated at 65 cents per share, bringing its 2010 outlook to $3.50 per share. For fiscal 2011, analysts estimate earnings will grow by 13% to $3.97 per share.
An analyst says Ensco is close to securing its first deep-water drilling contract with Brazilian oil giant Petrobras (PBR) for a huge offshore rig it has under construction and scheduled to be available for work in February."The significance of that goes beyond the (contract price) day-rate, as this would be Ensco's entry into the Brazil market, which would be an ideal market for its three ultra-deepwater rigs that are currently under construction and without contracts," notes a Morningstar analyst. A summary of analysts' views collected by S&P resulted in nine "buy" ratings, 16 "buy/holds," 12 "hold" and one "weak hold."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV