Borr Drilling (NYSE:BORR) Announces Earnings Results

Borr Drilling (NYSE:BORR - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01), Zacks reports. Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%. The company had revenue of $263.10 million for the quarter, compared to analyst estimates of $247.78 million.

Borr Drilling Stock Performance

Shares of NYSE BORR traded down $0.11 during mid-day trading on Friday, hitting $2.95. 5,272,259 shares of the company were exchanged, compared to its average volume of 5,756,915. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91. The stock has a 50 day simple moving average of $3.56 and a 200-day simple moving average of $4.50. Borr Drilling has a 1-year low of $2.90 and a 1-year high of $7.26. The firm has a market cap of $743.85 million, a price-to-earnings ratio of 9.20 and a beta of 2.84.

Borr Drilling Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, March 3rd. Borr Drilling's dividend payout ratio is presently 31.25%.

Borr Drilling Company Profile

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.