Poelsi7 : Ensco, ein Rebound Kandidat im Offshore Drilling
Wie auch Rowan und Transocean ist Ensco hervorragend aufgestellt.
Diese sollten gestärkt aus der Krise gehen, wie es auch im Goldsektor der Fall war mit Newmont, Barrick und Co.
Anbei ein Artikel von Seeking Alpha:
Ensco has done well despite the downturn in offshore drilling as its earnings improved last quarter on account of lower costs and debt repurchases.
Ensco has a strong liquidity position of more than $4 billion with no debt maturities to satisfy until 2019, giving it enough time to wait for the offshore recovery.
Ensco is busy negotiating contract extensions with clients and it has found success, which is good news since it can keep efficiency high and control idle costs.
Additionally, Ensco?s focus on lowering contract drilling expenses is aiding its bottom line growth and allowed it to exceed the estimates handsomely last quarter.
Ensco (NYSE:ESV) has been beaten heavily on the stock market this year despite an increase in drilling activities due to the recovery in crude oil and natural gas pricing. The stock has lost nearly 51% of its value this year, regardless of an improved financial performance in the second quarter.
In my view, investors are overlooking many positive aspects of Ensco that are helping it survive the prolonged downturn in the crude oil market efficiently. These positives consist of the existing contract backlog, the current liquidity and financial situation, extensions and new contracts, cost reductions across the business, and a higher net income margin.
These favorable factors indicate substantial revenue and earnings growth once the crude oil market improves. Therefore, it will be a prudent idea to buy Ensco shares on the dip. Let us see why.
A robust financial position
Ensco has done pretty well to improve its financial health despite the downturn in the offshore drilling industry. For instance, during the second quarter, Ensco completed a tender offer that has reduced its debt by $861 million at a 28% discount. At the same time, the company purchased an additional $79 million of senior notes on the open market at a 21% discount.
The important thing is that due to the deleveraging on account of the tender and the open-market debt repurchases, Ensco's net interest expense has dropped by over $11 million. Also, its net debt to capital ratio declined to 28% from 40% at the end of the first quarter of 2016.
Mal sehen wo wir in einem Jahr stehen, ich tippe auf Performance seit Threadbeginn 150%.