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

Valaris Limited (NYSE:VAL - Get Free Report) has received a consensus recommendation of "Reduce" from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $50.33.

A number of research firms have issued reports on VAL. Evercore ISI cut shares of Valaris from an "outperform" rating to an "in-line" rating and reduced their target price for the company from $87.00 to $59.00 in a research note on Wednesday, January 15th. Citigroup decreased their price target on Valaris from $48.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Susquehanna reduced their target price on Valaris from $47.00 to $34.00 and set a "neutral" rating for the company in a report on Monday. Barclays dropped their price target on shares of Valaris from $46.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Finally, StockNews.com upgraded shares of Valaris to a "sell" rating in a report on Thursday, February 20th.

Valaris Stock Up 2.7 %

Shares of NYSE VAL traded up $0.83 during mid-day trading on Friday, reaching $31.20. The company had a trading volume of 126,772 shares, compared to its average volume of 1,995,953. The stock has a fifty day moving average of $38.07 and a two-hundred day moving average of $44.45. Valaris has a 12-month low of $27.15 and a 12-month high of $84.20. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 6.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59.

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Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The business had revenue of $584.40 million for the quarter, compared to analysts' expectations of $578.01 million. As a group, equities research analysts expect that Valaris will post 3.96 EPS for the current year.

Hedge Funds Weigh In On Valaris

Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Valaris in the 3rd quarter worth $25,000. Lowe Wealth Advisors LLC bought a new position in Valaris during the first quarter worth about $28,000. Sterling Capital Management LLC grew its stake in Valaris by 518.3% in the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock valued at $33,000 after acquiring an additional 622 shares during the period. UMB Bank n.a. bought a new position in shares of Valaris during the 1st quarter valued at about $44,000. Finally, GAMMA Investing LLC raised its holdings in Valaris by 1,027.5% during the 1st quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock worth $53,000 after buying an additional 1,233 shares during the period. 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.