Valaris (NYSE:VAL) Releases Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Valaris (NYSE:VAL) announced its earnings results on Wednesday. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.41, FiscalAI reports. The business had revenue of $539.20 million during the quarter, compared to analysts’ expectations of $488.52 million. Valaris had a return on equity of 12.31% and a net margin of 45.37%.The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $1.61 earnings per share.

Valaris Price Performance

Shares of NYSE VAL traded down $1.28 during trading on Wednesday, hitting $76.86. The company had a trading volume of 668,719 shares, compared to its average volume of 1,217,601. Valaris has a 52 week low of $43.53 and a 52 week high of $114.12. The business’s 50-day moving average is $80.96 and its 200 day moving average is $85.83. The company has a market cap of $5.32 billion, a P/E ratio of 5.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.55 and a current ratio of 1.55.

Hedge Funds Weigh In On Valaris

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC lifted its holdings in shares of Valaris by 6.3% during the third quarter. Private Advisor Group LLC now owns 6,554 shares of the company’s stock valued at $320,000 after purchasing an additional 386 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Valaris in the 4th quarter valued at $282,000. Cetera Investment Advisers increased its stake in Valaris by 17.1% in the 4th quarter. Cetera Investment Advisers now owns 5,581 shares of the company’s stock worth $281,000 after purchasing an additional 816 shares in the last quarter. Vestcor Inc purchased a new position in Valaris in the 3rd quarter worth about $280,000. Finally, Teza Capital Management LLC raised its holdings in Valaris by 5.5% during the 2nd quarter. Teza Capital Management LLC now owns 6,316 shares of the company’s stock worth $266,000 after buying an additional 328 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on VAL. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report on Monday. Susquehanna reduced their price objective on shares of Valaris from $98.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Valaris has a consensus rating of “Reduce” and an average price target of $60.31.

Valaris Company Profile

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.