Valaris (NYSE:VAL) Announces Earnings Results, Beats Estimates By $0.68 EPS

Valaris (NYSE:VAL) announced its quarterly earnings results on Wednesday. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates 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 Price Performance

Shares of Valaris stock traded down $2.14 on Wednesday, reaching $42.66. 2,229,805 shares of the stock were exchanged, compared to its average volume of 1,513,224. The firm’s 50 day moving average is $45.51 and its 200-day moving average is $50.96. Valaris has a one year low of $39.90 and a one year high of $84.20. 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 market cap of $3.03 billion, a PE ratio of 2.93 and a beta of 1.10.

Analyst Upgrades and Downgrades

VAL has been the topic of a number of research reports. Susquehanna decreased their price target on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Evercore ISI lowered shares of Valaris from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. began coverage on shares of Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 target price on the stock. Barclays restated an “equal weight” rating and set a $49.00 target price (down previously from $59.00) on shares of Valaris in a research report on Wednesday, December 18th. Finally, Citigroup increased their target price on shares of Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.