Valaris (NYSE:VAL) Shares Gap Down on Disappointing Earnings

Valaris Limited (NYSE:VAL) shares gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $102.52, but opened at $94.63. Valaris shares last traded at $95.9480, with a volume of 220,803 shares traded.

The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.19). Valaris had a return on equity of 12.62% and a net margin of 41.49%.The business had revenue of $465.40 million for the quarter, compared to the consensus estimate of $443.75 million. During the same period in the prior year, the business posted ($0.53) earnings per share. Valaris’s revenue was down 25.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VAL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Valaris in a research note on Wednesday, January 21st. Zacks Research lowered Valaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Pareto Securities lowered Valaris from a “hold” rating to a “sell” rating and set a $80.00 price target for the company. in a research note on Monday, February 23rd. BTIG Research lowered Valaris from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Susquehanna lifted their target price on Valaris from $96.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $63.19.

Institutional Trading of Valaris

Several large investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd grew its stake in Valaris by 0.5% during the 4th quarter. WINTON GROUP Ltd now owns 27,510 shares of the company’s stock valued at $1,387,000 after purchasing an additional 146 shares during the last quarter. State of Michigan Retirement System grew its stake in Valaris by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 15,500 shares of the company’s stock valued at $1,520,000 after purchasing an additional 200 shares during the last quarter. Signaturefd LLC grew its stake in Valaris by 22.1% during the 4th quarter. Signaturefd LLC now owns 1,133 shares of the company’s stock valued at $57,000 after purchasing an additional 205 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Valaris by 1.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 15,301 shares of the company’s stock valued at $746,000 after purchasing an additional 214 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Valaris by 4.1% during the 2nd quarter. Prudential Financial Inc. now owns 5,885 shares of the company’s stock valued at $248,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

Valaris Trading Down 4.7%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.77 and a current ratio of 1.77. The company has a 50 day simple moving average of $95.14 and a two-hundred day simple moving average of $71.08. The firm has a market cap of $6.77 billion, a PE ratio of 7.06 and a beta of 0.97.

About Valaris

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh?environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.