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

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

Valaris Price Performance

NYSE VAL traded down $1.28 during trading hours on Wednesday, hitting $76.86. The company had a trading volume of 668,719 shares, compared to its average volume of 1,217,601. The firm has a 50 day simple moving average of $80.96 and a 200 day simple moving average of $85.83. Valaris has a 52 week low of $43.53 and a 52 week high of $114.12. The firm has a market capitalization of $5.32 billion, a price-to-earnings 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.

Analyst Ratings Changes

Several brokerages have recently issued reports on VAL. Susquehanna decreased their price target on shares of Valaris from $98.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research note on Monday. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $60.31.

Hedge Funds Weigh In On Valaris

Hedge funds have recently bought and sold shares of the company. Vestcor Inc bought a new position in Valaris in the 3rd quarter valued at $280,000. Teza Capital Management LLC increased its holdings in shares of Valaris by 5.5% in the second quarter. Teza Capital Management LLC now owns 6,316 shares of the company’s stock worth $266,000 after purchasing an additional 328 shares during the period. Kestra Advisory Services LLC raised its position in shares of Valaris by 20.2% in the fourth quarter. Kestra Advisory Services LLC now owns 5,136 shares of the company’s stock worth $259,000 after buying an additional 862 shares in the last quarter. Graham Capital Management L.P. raised its position in shares of Valaris by 18.0% in the fourth quarter. Graham Capital Management L.P. now owns 5,078 shares of the company’s stock worth $256,000 after buying an additional 774 shares in the last quarter. Finally, Vident Advisory LLC bought a new stake in Valaris during the second quarter valued at $250,000. 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.