Q2 2024 Earnings Forecast for Valaris Limited (NYSE:VAL) Issued By Capital One Financial

Valaris Limited (NYSE:VAL) – Stock analysts at Capital One Financial raised their Q2 2024 earnings per share (EPS) estimates for Valaris in a report issued on Thursday, May 2nd. Capital One Financial analyst D. Becker now anticipates that the company will post earnings of $0.96 per share for the quarter, up from their prior forecast of $0.89. The consensus estimate for Valaris’ current full-year earnings is $4.37 per share. Capital One Financial also issued estimates for Valaris’ Q4 2024 earnings at $1.71 EPS, FY2024 earnings at $4.37 EPS, Q1 2025 earnings at $2.28 EPS, Q3 2025 earnings at $3.09 EPS and Q4 2025 earnings at $3.18 EPS.

Valaris (NYSE:VAL) last announced its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Valaris had a return on equity of 3.81% and a net margin of 44.93%. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $503.00 million.

A number of other research firms have also weighed in on VAL. Barclays cut their target price on shares of Valaris from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. Benchmark reissued a “buy” rating and set a $90.00 price objective on shares of Valaris in a research report on Thursday. StockNews.com raised Valaris to a “sell” rating in a report on Friday, April 26th. Evercore ISI dropped their price target on Valaris from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, TheStreet raised Valaris from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Valaris has an average rating of “Moderate Buy” and an average price target of $100.00.

Valaris Price Performance

NYSE VAL opened at $68.25 on Monday. Valaris has a 1 year low of $54.13 and a 1 year high of $78.92. The company has a fifty day simple moving average of $69.74 and a 200 day simple moving average of $67.82. The company has a current ratio of 1.57, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53. The company has a market cap of $4.94 billion, a P/E ratio of 5.97 and a beta of 1.20.

Hedge Funds Weigh In On Valaris

Several large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of Valaris by 120.1% during the 3rd quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock valued at $30,000 after acquiring an additional 215 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Valaris in the 3rd quarter valued at approximately $37,000. Covestor Ltd raised its holdings in shares of Valaris by 184.0% in the 3rd quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after buying an additional 449 shares in the last quarter. Assetmark Inc. acquired a new position in shares of Valaris in the 3rd quarter worth approximately $70,000. Finally, Spire Wealth Management bought a new position in shares of Valaris during the 4th quarter worth approximately $101,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

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.