Capital One Financial Comments on Valaris Limited’s Q2 2024 Earnings (NYSE:VAL)

Valaris Limited (NYSE:VAL) – Equities research analysts at Capital One Financial raised their Q2 2024 earnings per share estimates for Valaris in a report released on Thursday, May 2nd. Capital One Financial analyst D. Becker now anticipates that the company will earn $0.96 per share for the quarter, up from their prior estimate of $0.89. The consensus estimate for Valaris’ current full-year earnings is $4.37 per share. Capital One Financial also issued estimates for Valaris’ Q4 2024 earnings at $1.71 EPS, FY2024 earnings at $4.37 EPS, Q1 2025 earnings at $2.28 EPS, Q3 2025 earnings at $3.09 EPS and Q4 2025 earnings at $3.18 EPS.

Several other brokerages also recently commented on VAL. Evercore ISI dropped their target price on shares of Valaris from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. StockNews.com raised Valaris to a “sell” rating in a research report on Friday, April 26th. Barclays decreased their target price on Valaris from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. TheStreet raised Valaris from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. Finally, Benchmark reissued a “buy” rating and issued a $90.00 price objective on shares of Valaris in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, Valaris presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Valaris Price Performance

Shares of Valaris stock opened at $71.90 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $69.83 and a 200-day simple moving average of $67.82. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 6.29 and a beta of 1.20. Valaris has a 1-year low of $55.53 and a 1-year high of $78.92.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $525.00 million during the quarter, compared to the consensus estimate of $503.00 million. Valaris had a net margin of 44.93% and a return on equity of 3.81%.

Hedge Funds Weigh In On Valaris

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Valaris during the 3rd quarter valued at about $132,000. Xponance Inc. lifted its position in shares of Valaris by 1.9% during the 3rd quarter. Xponance Inc. now owns 9,023 shares of the company’s stock worth $677,000 after buying an additional 172 shares during the period. Raymond James & Associates grew its holdings in shares of Valaris by 33.6% in the 3rd quarter. Raymond James & Associates now owns 33,327 shares of the company’s stock worth $2,499,000 after purchasing an additional 8,385 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Valaris by 2.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 6,940 shares of the company’s stock worth $520,000 after acquiring an additional 172 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Valaris by 98.8% in the third quarter. New York State Teachers Retirement System now owns 34,200 shares of the company’s stock valued at $2,564,000 after buying an additional 17,000 shares during the last quarter. Institutional investors and hedge funds 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.