Evercore ISI Has Lowered Expectations for Valaris (NYSE:VAL) Stock Price

Valaris (NYSE:VAL) had its price target dropped by analysts at Evercore ISI from $55.00 to $50.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 39.20% from the stock’s previous close.

Several other research firms have also recently commented on VAL. Citigroup cut their target price on shares of Valaris from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. StockNews.com upgraded shares of Valaris to a “sell” rating in a research report on Thursday, February 20th. Susquehanna cut their price target on Valaris from $47.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Barclays cut their price target on Valaris from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Valaris currently has a consensus rating of “Hold” and an average target price of $48.83.

Valaris Stock Performance

Shares of VAL stock opened at $35.92 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The firm has a market cap of $2.55 billion, a P/E ratio of 6.99 and a beta of 1.06. Valaris has a fifty-two week low of $27.15 and a fifty-two week high of $84.20. The stock’s 50-day moving average is $35.02 and its two-hundred day moving average is $42.52.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($1.63). The business had revenue of $620.70 million during the quarter, compared to analyst estimates of $582.87 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The firm’s revenue was up 6.2% on a year-over-year basis. Analysts predict that Valaris will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valaris

Institutional investors and hedge funds have recently modified their holdings of the business. Lowe Wealth Advisors LLC acquired a new position in shares of Valaris during the 1st quarter worth about $28,000. Quarry LP grew its stake in shares of Valaris by 51.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $30,000 after acquiring an additional 233 shares in the last quarter. Sterling Capital Management LLC increased its position in Valaris by 518.3% during the fourth quarter. Sterling Capital Management LLC now owns 742 shares of the company’s stock worth $33,000 after acquiring an additional 622 shares during the period. UMB Bank n.a. bought a new position in Valaris during the 1st quarter worth $44,000. Finally, GAMMA Investing LLC lifted its position in Valaris by 1,027.5% during the first quarter. GAMMA Investing LLC now owns 1,353 shares of the company’s stock worth $53,000 after purchasing an additional 1,233 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

About Valaris

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.