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

Valaris Limited (NYSE:VAL) – Investment analysts at Capital One Financial upped their Q2 2024 earnings per share (EPS) estimates for Valaris in a research note issued to investors on Thursday, May 2nd. Capital One Financial analyst D. Becker now forecasts that the company will post earnings per share of $0.96 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.

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

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

Valaris Price Performance

Valaris stock opened at $70.80 on Monday. Valaris has a 52 week low of $55.53 and a 52 week high of $78.92. The business’s fifty day moving average is $69.74 and its two-hundred day moving average is $67.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $5.13 billion, a P/E ratio of 6.19 and a beta of 1.20.

Institutional Trading of Valaris

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Valaris by 31.8% during the 3rd quarter. FMR LLC now owns 3,812,867 shares of the company’s stock worth $285,889,000 after purchasing an additional 919,123 shares in the last quarter. Norges Bank bought a new stake in shares of Valaris in the fourth quarter worth $43,282,000. Lancaster Investment Management acquired a new position in Valaris during the fourth quarter worth $27,436,000. Bank Pictet & Cie Europe AG bought a new position in Valaris in the third quarter valued at $27,063,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Valaris by 157.1% in the 3rd quarter. Principal Financial Group Inc. now owns 587,780 shares of the company’s stock valued at $44,072,000 after acquiring an additional 359,168 shares in 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.