Borr Drilling (NYSE:BORR) Releases Earnings Results, Misses Estimates By $0.05 EPS

Borr Drilling (NYSE:BORR) announced its earnings results on Wednesday. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05), Zacks reports. Borr Drilling had a return on equity of 7.69% and a net margin of 8.15%. The business had revenue of $241.60 million during the quarter.

Borr Drilling Trading Down 7.7 %

Shares of NYSE BORR traded down $0.34 during trading on Thursday, reaching $4.07. The company had a trading volume of 5,418,439 shares, compared to its average volume of 2,937,401. Borr Drilling has a 52 week low of $4.00 and a 52 week high of $7.61. The business’s 50 day moving average price is $5.23 and its 200-day moving average price is $5.89. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.75.

Borr Drilling Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 22nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.83%. The ex-dividend date of this dividend was Thursday, August 22nd. Borr Drilling’s payout ratio is presently 34.48%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI upgraded Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price objective for the company in a research report on Friday, September 13th.

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.