Valaris Limited (NYSE:VAL) Receives $52.50 Average Price Target from Brokerages

Shares of Valaris Limited (NYSE:VAL) have received an average rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $52.50.

Several equities research analysts recently commented on the company. BTIG Research boosted their price target on Valaris from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Citigroup boosted their target price on shares of Valaris from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Capital One Financial set a $55.00 price target on shares of Valaris in a report on Monday, September 15th. Barclays upped their price objective on shares of Valaris from $43.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Finally, Zacks Research upgraded Valaris from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th.

Institutional Trading of Valaris

A number of institutional investors and hedge funds have recently modified their holdings of VAL. CIBC Bancorp USA Inc. acquired a new position in Valaris in the 3rd quarter valued at $331,000. Dark Forest Capital Management LP bought a new stake in Valaris during the third quarter valued at about $4,122,000. Wexford Capital LP acquired a new stake in shares of Valaris in the third quarter valued at about $41,000. Pureheart Capital Pte Ltd. acquired a new stake in shares of Valaris in the third quarter valued at about $2,536,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Valaris in the third quarter worth about $4,345,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Trading Up 1.5%

NYSE VAL opened at $55.00 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.44. Valaris has a 1-year low of $27.15 and a 1-year high of $58.85. The firm’s fifty day simple moving average is $52.82 and its 200-day simple moving average is $48.00. The company has a market capitalization of $3.83 billion, a PE ratio of 9.80 and a beta of 1.16.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, October 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $1.65. Valaris had a return on equity of 17.27% and a net margin of 16.51%.The firm had revenue of $595.70 million during the quarter, compared to analysts’ expectations of $568.41 million. The business’s revenue was down 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Valaris will post 3.96 earnings per share for the current fiscal year.

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.