Borr Drilling Limited (NYSE:BORR) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analysts hold a mixed view of Borr Drilling: five brokerages give the stock a consensus “Hold” rating, with two sells, one hold, and two strong buys. The average 12-month price target is $5.27.
• Borr Drilling reported a quarterly loss of $0.79 per share, missing the $0.21 consensus estimate, while revenue of $232.3 million also fell short of expectations.
• Insider and institutional ownership remains significant: Director Jeffrey Currie bought 125,000 shares, while institutional investors own 83.12% of the stock. BORR recently opened at $4.62, within a 52-week range of $2.44 to $6.66.

Shares of Borr Drilling Limited (NYSE:BORR - Get Free Report) have received a consensus recommendation of "Hold" from the five brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $5.27.

Several equities research analysts recently commented on BORR shares. Capital One Financial set a $6.00 target price on Borr Drilling and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Wall Street Zen downgraded Borr Drilling from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Weiss Ratings lowered Borr Drilling from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, August 12th. Zacks Research cut shares of Borr Drilling from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 15th. Finally, SEB Equity Research set a $3.55 price target on shares of Borr Drilling in a report on Monday, August 17th.

Insider Buying and Selling

In other Borr Drilling news, Director Jeffrey Currie bought 125,000 shares of Borr Drilling stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $4.01 per share, for a total transaction of $501,250.00. Following the completion of the acquisition, the director owned 479,423 shares of the company's stock, valued at approximately $1,922,486.23. This represents a 35.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Borr Drilling

A number of institutional investors and hedge funds have recently modified their holdings of BORR. Squarepoint Ops LLC boosted its holdings in shares of Borr Drilling by 129.8% in the second quarter. Squarepoint Ops LLC now owns 1,397,369 shares of the company's stock worth $5,771,000 after buying an additional 789,214 shares during the period. Goehring & Rozencwajg Associates LLC grew its position in Borr Drilling by 30.6% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,119,465 shares of the company's stock valued at $12,229,000 after purchasing an additional 496,302 shares in the last quarter. Empowered Funds LLC grew its position in Borr Drilling by 115.2% during the first quarter. Empowered Funds LLC now owns 1,422,598 shares of the company's stock valued at $8,208,000 after purchasing an additional 761,433 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Borr Drilling by 167.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,491,730 shares of the company's stock valued at $20,148,000 after buying an additional 2,185,639 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Borr Drilling in the 1st quarter valued at approximately $2,160,000. Institutional investors and hedge funds own 83.12% of the company's stock.

Borr Drilling Stock Performance

Shares of BORR opened at $4.62 on Friday. The firm has a market capitalization of $1.46 billion, a PE ratio of -5.92 and a beta of 1.08. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 2.58. The firm has a 50-day moving average price of $4.29 and a 200 day moving average price of $4.83. Borr Drilling has a 52-week low of $2.44 and a 52-week high of $6.66.

Borr Drilling (NYSE:BORR - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.58). The company had revenue of $232.30 million for the quarter, compared to the consensus estimate of $245.96 million. Borr Drilling had a negative return on equity of 5.95% and a negative net margin of 23.98%. On average, sell-side analysts anticipate that Borr Drilling will post -0.48 earnings per share for the current fiscal year.

Borr Drilling Company Profile

Borr Drilling Limited NYSE: BORR is an offshore drilling contractor that provides drilling services to oil and gas companies. The company focuses primarily on jack-up rigs, which are mobile offshore drilling units used in relatively shallow waters for exploration, development and production drilling.

Borr Drilling owns and operates a fleet of modern jack-up rigs, including premium and high-specification units designed to work in a range of offshore environments. Its services support customers throughout the drilling life cycle, from exploratory wells to development and production activities.

Established in 2016 and headquartered in Hamilton, Bermuda, Borr Drilling expanded its fleet through the acquisition of jack-up rigs from Transocean in 2017.

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