Valaris (VAL) Set to Announce Quarterly Earnings on Thursday

Valaris (NYSE:VAL - Get Free Report) will release its earnings data before the market opens on Thursday, October 31st. Analysts expect Valaris to post earnings of $1.36 per share for the quarter. Individual that wish to listen to the company's earnings conference call can do so using this link.

Valaris (NYSE:VAL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The business had revenue of $610.10 million during the quarter, compared to analyst estimates of $545.00 million. On average, analysts expect Valaris to post $4 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Valaris Stock Performance

VAL traded up $1.23 on Thursday, hitting $50.46. The company had a trading volume of 2,019,523 shares, compared to its average volume of 1,019,570. The company's fifty day moving average price is $56.27 and its 200 day moving average price is $66.85. Valaris has a 1-year low of $48.63 and a 1-year high of $84.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 3.64 and a beta of 1.15.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Susquehanna lowered their price target on Valaris from $62.00 to $61.00 and set a "neutral" rating on the stock in a research report on Friday, October 11th. Barclays cut their target price on Valaris from $91.00 to $61.00 and set an "overweight" rating on the stock in a research note on Wednesday. Pickering Energy Partners downgraded Valaris from an "outperform" rating to a "neutral" rating in a report on Tuesday, July 16th. Citigroup lowered their price target on Valaris from $95.00 to $71.00 and set a "buy" rating for the company in a report on Thursday, September 12th. Finally, Benchmark downgraded Valaris from a "buy" rating to a "hold" rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $81.33.

Insider Activity at Valaris

In other Valaris news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the transaction, the senior vice president now owns 13,334 shares in the company, valued at approximately $755,237.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now directly owns 13,334 shares of the company's stock, valued at $755,237.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Gilles Luca sold 30,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the sale, the chief operating officer now directly owns 108,342 shares of the company's stock, valued at $6,160,326.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,403 shares of company stock worth $4,028,246 in the last 90 days. Corporate insiders own 0.12% 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.