Borr Drilling (NYSE:BORR) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Borr Drilling (NYSE:BORR) posted its earnings results on Wednesday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05), Zacks reports. Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%. The business had revenue of $241.60 million for the quarter.

Borr Drilling Stock Performance

Shares of NYSE BORR traded down $0.34 during trading on Thursday, reaching $4.07. 5,418,439 shares of the stock were exchanged, compared to its average volume of 2,937,401. The business’s 50-day moving average price is $5.23 and its 200 day moving average price is $5.89. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.75. Borr Drilling has a twelve month low of $4.00 and a twelve month high of $7.61.

Borr Drilling Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.83%. The ex-dividend date was Thursday, August 22nd. Borr Drilling’s dividend payout ratio (DPR) is 34.48%.

Wall Street Analyst Weigh In

Separately, Evercore ISI raised Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price objective on the stock in a research report on Friday, September 13th.

About Borr Drilling

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.