Valaris (NYSE:VAL) Announces Quarterly Earnings Results

Valaris (NYSE:VAL) released its earnings results on Thursday. The company reported $10.26 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $9.75, FiscalAI reports. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $499.16 million. Valaris had a return on equity of 17.27% and a net margin of 16.51%.Valaris’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share.

Valaris Price Performance

VAL stock opened at $92.48 on Friday. The stock’s fifty day simple moving average is $60.13 and its 200-day simple moving average is $54.89. Valaris has a 52-week low of $27.15 and a 52-week high of $96.40. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 16.48 and a beta of 1.18. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On Valaris

Several institutional investors and hedge funds have recently bought and sold shares of VAL. Schf GPE LLC purchased a new stake in Valaris during the second quarter worth approximately $77,675,000. Ameriprise Financial Inc. increased its holdings in Valaris by 212.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 470,076 shares of the company’s stock valued at $22,926,000 after purchasing an additional 319,780 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Valaris by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,234,713 shares of the company’s stock worth $163,031,000 after purchasing an additional 206,305 shares in the last quarter. HRT Financial LP boosted its position in shares of Valaris by 1,539.0% in the second quarter. HRT Financial LP now owns 215,564 shares of the company’s stock worth $9,077,000 after buying an additional 202,412 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Valaris in the third quarter valued at about $6,542,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup cut their price target on shares of Valaris from $62.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, December 22nd. Barclays increased their target price on shares of Valaris from $43.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report 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. Finally, BTIG Research raised their price objective on Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Valaris presently has an average rating of “Hold” and a consensus price target of $53.56.

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.