Evercore ISI Issues Pessimistic Forecast for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL - Get Free Report) had its price target reduced by equities research analysts at Evercore ISI from $55.00 to $50.00 in a report released on Friday,Benzinga reports. The firm currently has an "in-line" rating on the stock. Evercore ISI's target price points to a potential upside of 40.96% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Barclays reduced their price objective on Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Citigroup decreased their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Susquehanna dropped their price objective on shares of Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, StockNews.com raised shares of Valaris to a "sell" rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, Valaris has a consensus rating of "Hold" and a consensus target price of $49.17.

Valaris Price Performance

Shares of NYSE:VAL traded down $0.49 during mid-day trading on Friday, reaching $35.47. The stock had a trading volume of 3,131,445 shares, compared to its average volume of 1,512,646. The business's 50 day moving average price is $35.02 and its 200 day moving average price is $42.46. Valaris has a 1 year low of $27.15 and a 1 year high of $84.20. The company has a market cap of $2.52 billion, a P/E ratio of 6.90 and a beta of 1.09. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48.

Valaris (NYSE:VAL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($1.63). Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm had revenue of $620.70 million for the quarter, compared to analysts' expectations of $582.87 million. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Valaris will post 3.96 EPS for the current fiscal year.

Institutional Trading of Valaris

A number of large investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in Valaris by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 37,429 shares of the company's stock valued at $1,956,000 after buying an additional 1,634 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Valaris by 2.2% in the third quarter. Retirement Systems of Alabama now owns 190,025 shares of the company's stock valued at $10,594,000 after purchasing an additional 4,065 shares during the period. City Center Advisors LLC purchased a new position in Valaris during the 4th quarter worth $319,000. Moody National Bank Trust Division bought a new stake in Valaris during the 4th quarter valued at $416,000. Finally, 180 Wealth Advisors LLC purchased a new stake in shares of Valaris in the 4th quarter worth $409,000. 96.74% of the stock is owned by hedge funds and other institutional investors.

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.