Valaris (NYSE:VAL) Posts Quarterly Earnings Results, Beats Estimates By $9.86 EPS

Valaris (NYSE:VAL) posted its earnings results on Thursday. The company reported $10.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $9.86, 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 net margin of 16.51% and a return on equity of 17.27%.

Valaris Stock Performance

Shares of NYSE VAL traded up $1.71 during midday trading on Thursday, reaching $92.71. 2,127,238 shares of the company were exchanged, compared to its average volume of 1,993,472. The stock has a market cap of $6.45 billion, a P/E ratio of 16.53 and a beta of 1.18. Valaris has a 1 year low of $27.15 and a 1 year high of $96.40. The stock has a fifty day simple moving average of $59.44 and a 200 day simple moving average of $54.63. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.44.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on VAL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report on Wednesday, January 21st. BTIG Research upped their price target on Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Zacks Research cut shares of Valaris from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Barclays lifted their target price on Valaris from $43.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Citigroup decreased their price objective on shares of Valaris from $62.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.56.

Hedge Funds Weigh In On Valaris

A number of large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in shares of Valaris by 1.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 15,301 shares of the company’s stock worth $746,000 after buying an additional 214 shares in the last quarter. Prudential Financial Inc. grew its holdings 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 buying an additional 230 shares during the last quarter. Teza Capital Management LLC increased its position 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 purchasing an additional 328 shares in the last quarter. Private Advisor Group LLC grew 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 worth $320,000 after buying an additional 386 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Valaris by 4.6% in the 3rd quarter. Victory Capital Management Inc. now owns 13,989 shares of the company’s stock valued at $682,000 after acquiring an additional 615 shares during the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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.