Valaris Limited (NYSE:VAL) Receives Average Rating of “Reduce” from Analysts

Shares of Valaris Limited (NYSE:VAL) have earned an average recommendation of “Reduce” from the seven ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $50.33.

Several analysts recently issued reports on VAL shares. StockNews.com raised shares of Valaris to a “sell” rating in a report on Thursday, February 20th. Citigroup dropped their target price on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Evercore ISI downgraded shares of Valaris from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $87.00 to $59.00 in a report on Wednesday, January 15th. Susquehanna cut their target price on Valaris from $47.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Barclays lowered their price target on Valaris from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th.

Institutional Trading of Valaris

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Valaris in the 3rd quarter valued at $25,000. Lowe Wealth Advisors LLC acquired a new position in Valaris in the first quarter valued at about $28,000. Sterling Capital Management LLC increased its holdings in shares of Valaris by 518.3% in the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock worth $33,000 after acquiring an additional 622 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of Valaris during the first quarter worth about $44,000. Finally, GAMMA Investing LLC raised its position in shares of Valaris by 1,027.5% during the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company’s stock worth $53,000 after purchasing an additional 1,233 shares during the period. Institutional investors own 96.74% of the company’s stock.

Valaris Price Performance

VAL stock opened at $30.34 on Friday. The firm has a market cap of $2.16 billion, a P/E ratio of 5.90 and a beta of 1.06. The stock has a 50-day simple moving average of $38.07 and a 200-day simple moving average of $44.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. Valaris has a 1 year low of $27.15 and a 1 year high of $84.20.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.68. The business had revenue of $584.40 million for the quarter, compared to analyst estimates of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. On average, equities analysts predict that Valaris will post 3.96 earnings per share for the current fiscal year.

About Valaris

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.