Valaris Limited (NYSE:VAL) Receives Average Recommendation of "Reduce" from Brokerages

Valaris Limited (NYSE:VAL - Get Free Report) has received an average rating of "Reduce" from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $49.17.

Several equities analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Valaris from $55.00 to $50.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. StockNews.com upgraded Valaris to a "sell" rating in a report on Thursday, February 20th. Citigroup decreased their price objective on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Barclays increased their target price on Valaris from $35.00 to $37.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Susquehanna decreased their price target 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.

Hedge Funds Weigh In On Valaris

Several hedge funds have recently modified their holdings of VAL. Dimensional Fund Advisors LP lifted its holdings in Valaris by 55.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company's stock worth $101,771,000 after acquiring an additional 821,304 shares during the period. Norges Bank purchased a new stake in shares of Valaris during the 4th quarter valued at $31,949,000. Condire Management LP raised its stake in shares of Valaris by 34.1% during the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company's stock worth $115,850,000 after purchasing an additional 665,718 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Valaris in the 4th quarter worth about $21,747,000. Finally, Waverton Investment Management Ltd grew its position in Valaris by 49.7% during the first quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock valued at $44,455,000 after buying an additional 375,466 shares during the period. Institutional investors own 96.74% of the company's stock.

Valaris Trading Up 2.3 %

Shares of VAL stock traded up $0.85 during mid-day trading on Tuesday, hitting $38.32. The company's stock had a trading volume of 1,370,375 shares, compared to its average volume of 1,520,899. Valaris has a 52 week low of $27.15 and a 52 week high of $84.20. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59. The company's fifty day simple moving average is $35.09 and its 200-day simple moving average is $42.17. The company has a market cap of $2.72 billion, a PE ratio of 7.46 and a beta of 1.09.

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

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.