Borr Drilling (NYSE:BORR) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Borr Drilling (NYSE:BORR) posted its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04), Zacks reports. Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%. The firm had revenue of $217.50 million for the quarter, compared to analyst estimates of $231.17 million.

Borr Drilling Trading Up 0.9%

BORR opened at $1.63 on Friday. Borr Drilling has a twelve month low of $1.55 and a twelve month high of $7.26. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91. The company has a fifty day moving average of $1.95 and a 200-day moving average of $2.93. The stock has a market cap of $388.88 million, a PE ratio of 5.08 and a beta of 1.77.

Institutional Investors Weigh In On Borr Drilling

Several large investors have recently modified their holdings of BORR. AQR Capital Management LLC acquired a new stake in shares of Borr Drilling during the first quarter worth $476,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Borr Drilling by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company’s stock worth $309,000 after buying an additional 6,012 shares during the period. Millennium Management LLC increased its position in shares of Borr Drilling by 1,025.5% during the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock worth $8,345,000 after buying an additional 3,471,979 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Borr Drilling during the first quarter worth $186,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Borr Drilling Company Profile

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.