Borr Drilling (NYSE:BORR) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Borr Drilling (NYSE:BORRGet Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05), Zacks reports. Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%. The business had revenue of $241.60 million during the quarter.

Borr Drilling Stock Performance

NYSE:BORR traded down $0.34 during trading hours 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. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a 50-day moving average of $5.23 and a two-hundred day moving average of $5.89. Borr Drilling has a one year low of $4.00 and a one year high of $7.61.

Borr Drilling Dividend Announcement

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

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on BORR

Borr Drilling Company Profile

(Get Free Report)

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.

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Earnings History for Borr Drilling (NYSE:BORR)

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