Valaris (NYSE:VAL) Announces Quarterly Earnings Results

Valaris (NYSE:VAL) released its quarterly earnings data on Wednesday. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68, Zacks reports. Valaris had a net margin of 47.52% and a return on equity of 13.67%.

Valaris Stock Performance

Shares of VAL traded down $2.14 during trading hours on Wednesday, hitting $42.66. The stock had a trading volume of 2,230,557 shares, compared to its average volume of 1,513,274. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a 50-day moving average price of $45.51 and a 200 day moving average price of $50.96. Valaris has a fifty-two week low of $39.90 and a fifty-two week high of $84.20. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 2.93 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VAL shares. Susquehanna dropped their price objective on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. started coverage on shares of Valaris in a report on Friday, December 6th. They issued an “underweight” rating and a $40.00 price objective on the stock. Barclays reaffirmed an “equal weight” rating and issued a $49.00 price objective (down from $59.00) on shares of Valaris in a report on Wednesday, December 18th. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Finally, Citigroup upped their price objective on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.83.

Valaris Company Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.