Valaris (NYSE:VAL) Given New $52.00 Price Target at Susquehanna

Key Points

• Susquehanna upgraded Valaris' price target from $46.00 to $52.00, indicating a potential upside of 16.81% from its previous close.
• Valaris reported $1.61 earnings per share for the latest quarter, exceeding estimates by $0.45, with revenues of $615.20 million.
• Currently, Valaris has a consensus rating of "Hold" from analysts, with a mix of ratings including two sell ratings, five hold ratings, and one buy rating.

Valaris (NYSE:VAL - Get Free Report) had its price objective upped by analysts at Susquehanna from $46.00 to $52.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Susquehanna's price target would indicate a potential upside of 16.81% from the company's previous close.

Other analysts have also recently issued research reports about the stock. BTIG Research reiterated a "buy" rating on shares of Valaris in a report on Monday, July 14th. Wall Street Zen raised Valaris to a "sell" rating in a research report on Tuesday, May 13th. Citigroup reissued a "neutral" rating and set a $50.00 price objective (up previously from $47.00) on shares of Valaris in a research report on Thursday, July 10th. Barclays raised their price objective on Valaris from $37.00 to $39.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Finally, Evercore ISI lowered their price objective on Valaris from $55.00 to $50.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Valaris currently has a consensus rating of "Hold" and an average price target of $53.50.

Valaris Stock Down 8.5%

Shares of Valaris stock opened at $44.52 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.67 and a current ratio of 1.67. Valaris has a 52-week low of $27.15 and a 52-week high of $72.00. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 11.70 and a beta of 1.15. The company's 50 day moving average price is $44.87 and its 200-day moving average price is $41.12.

Valaris (NYSE:VAL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.45. The business had revenue of $615.20 million for the quarter, compared to analysts' expectations of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.56%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 earnings per share. Equities research analysts forecast that Valaris will post 3.96 EPS for the current year.

Hedge Funds Weigh In On Valaris

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Valaris by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,454,159 shares of the company's stock worth $285,532,000 after purchasing an additional 23,509 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Valaris by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,761,369 shares of the company's stock worth $108,412,000 after purchasing an additional 460,792 shares during the last quarter. Condire Management LP raised its position in Valaris by 34.1% in the 4th quarter. Condire Management LP now owns 2,618,678 shares of the company's stock worth $115,850,000 after buying an additional 665,718 shares during the last quarter. Dalal Street LLC purchased a new position in Valaris in the 1st quarter worth about $56,046,000. Finally, Waverton Investment Management Ltd raised its position in Valaris by 49.7% in the 1st quarter. Waverton Investment Management Ltd now owns 1,131,601 shares of the company's stock worth $44,455,000 after buying an additional 375,466 shares during the last quarter. Hedge funds and other institutional investors 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.

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