Valaris Limited (NYSE:VAL) Receives Consensus Recommendation of “Reduce” from Analysts

Valaris Limited (NYSE:VAL) has received a consensus recommendation of “Reduce” from the seven analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $54.33.

A number of analysts recently issued reports on the company. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $87.00 to $59.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. assumed coverage on Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price objective for the company. StockNews.com raised Valaris to a “sell” rating in a research report on Thursday, February 20th. Citigroup decreased their price objective on Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Finally, Barclays decreased their price objective on Valaris from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th.

Hedge Funds Weigh In On Valaris

Large investors have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Valaris during the 3rd quarter worth approximately $25,000. Sterling Capital Management LLC raised its stake in shares of Valaris by 518.3% during the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock worth $33,000 after buying an additional 622 shares in the last quarter. Signaturefd LLC raised its stake in shares of Valaris by 395.0% during the 4th quarter. Signaturefd LLC now owns 1,475 shares of the company’s stock worth $65,000 after buying an additional 1,177 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Valaris by 41.0% during the 4th quarter. Blue Trust Inc. now owns 1,758 shares of the company’s stock worth $78,000 after buying an additional 511 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Valaris by 326.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $83,000 after buying an additional 1,435 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Stock Down 1.7 %

Shares of NYSE VAL opened at $39.68 on Monday. The stock has a market cap of $2.82 billion, a PE ratio of 7.72 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris has a 52-week low of $31.15 and a 52-week high of $84.20. The business has a 50-day moving average price of $43.07 and a 200 day moving average price of $47.05.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, February 19th. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. The firm had revenue of $584.40 million during the quarter, compared to analysts’ expectations of $578.01 million. Valaris had a return on equity of 17.40% and a net margin of 15.81%. Equities research analysts forecast that Valaris will post 3.96 earnings per share for the current 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.