Valaris (VAL) Scheduled to Post Quarterly Earnings on Thursday

Valaris (NYSE:VAL) will be issuing its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $1.36 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Valaris (NYSE:VAL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million during the quarter, compared to analysts’ expectations of $545.00 million. On average, analysts expect Valaris to post $4 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Valaris Price Performance

Shares of NYSE:VAL opened at $49.25 on Thursday. Valaris has a twelve month low of $48.63 and a twelve month high of $84.20. The stock’s 50 day moving average is $56.56 and its 200-day moving average is $66.98. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 4.31 and a beta of 1.15.

Insider Activity

In other news, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Gilles Luca sold 30,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the sale, the senior vice president now directly owns 13,334 shares in the company, valued at $755,237.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,403 shares of company stock valued at $4,028,246 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VAL. Citigroup reduced their price objective on shares of Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Barclays cut their price target on Valaris from $91.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Finally, Susquehanna dropped their price objective on Valaris from $62.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.33.

Valaris Company Profile

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.