Valaris (NYSE:VAL) Issues Quarterly Earnings Results

Valaris (NYSE:VALGet Rating) released its quarterly earnings data on Tuesday. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.38, MarketWatch Earnings reports. Valaris had a negative net margin of 291.76% and a negative return on equity of 340.91%.

Shares of NYSE:VAL opened at $59.31 on Friday. Valaris has a 12-month low of $20.56 and a 12-month high of $60.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.86 and a quick ratio of 2.86.

Separately, StockNews.com raised shares of Valaris from a “sell” rating to a “hold” rating in a report on Tuesday.

About Valaris (Get Rating)

Valaris Limited offers offshore contract drilling services to oil and gas industry in Bermuda and internationally. The company owns an offshore drilling rig fleet of 56 rigs, which include 11 drillships, 4 dynamically positioned semisubmersible rigs, 1 moored semisubmersible rig, and 40 jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, the North Sea, the Middle East, West Africa, Australia, and Southeast Asia.

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