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

Valaris (NYSE:VAL) had its target price dropped by research analysts at Susquehanna from $50.00 to $47.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s target price suggests a potential upside of 12.44% from the stock’s previous close.

VAL has been the topic of several other reports. StockNews.com upgraded shares of Valaris to a “sell” rating in a report on Thursday. Evercore ISI lowered Valaris from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. JPMorgan Chase & Co. began coverage on Valaris in a research report on Friday, December 6th. They set an “underweight” rating and a $40.00 price target for the company. Barclays reissued an “equal weight” rating and set a $49.00 price objective (down previously from $59.00) on shares of Valaris in a report on Wednesday, December 18th. Finally, Citigroup raised their target price on shares of Valaris from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Valaris currently has an average rating of “Hold” and a consensus target price of $55.50.

Valaris Trading Down 6.2 %

NYSE VAL opened at $41.80 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.59 and a debt-to-equity ratio of 0.48. Valaris has a 52 week low of $39.90 and a 52 week high of $84.20. The business has a 50 day moving average price of $45.42 and a 200-day moving average price of $50.62. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 8.13 and a beta of 1.10.

Valaris (NYSE:VAL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.68. Valaris had a net margin of 15.81% and a return on equity of 17.40%. The business had revenue of $584.40 million during the quarter, compared to analyst estimates of $578.01 million. As a group, equities analysts expect that Valaris will post 3.96 earnings per share for the current fiscal year.

Institutional Trading of Valaris

Hedge funds have recently bought and sold shares of the company. Centiva Capital LP bought a new position in Valaris during the third quarter valued at approximately $930,000. XTX Topco Ltd purchased a new stake in shares of Valaris in the 3rd quarter valued at $1,862,000. Diversify Advisory Services LLC grew its holdings in shares of Valaris by 14.8% during the 3rd quarter. Diversify Advisory Services LLC now owns 137,572 shares of the company’s stock valued at $7,670,000 after purchasing an additional 17,690 shares during the last quarter. Waverton Investment Management Ltd raised its position in Valaris by 20.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 670,885 shares of the company’s stock worth $37,412,000 after purchasing an additional 113,509 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in Valaris by 19.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 31,391 shares of the company’s stock worth $1,750,000 after purchasing an additional 5,184 shares during the last quarter. Institutional investors 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.