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

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

Borr Drilling Price Performance

NYSE:BORR traded down $0.34 during trading hours on Thursday, reaching $4.07. 5,418,439 shares of the stock were exchanged, compared to its average volume of 2,937,401. The firm has a 50 day simple moving average of $5.23 and a 200-day simple moving average of $5.89. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.75. Borr Drilling has a 52 week low of $4.00 and a 52 week high of $7.61.

Borr Drilling Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 22nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 9.83%. The ex-dividend date of this dividend was Thursday, August 22nd. Borr Drilling’s dividend payout ratio is currently 34.48%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised shares of Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price objective for the company in a report on Friday, September 13th.

Check Out Our Latest Stock Analysis on Borr Drilling

About Borr Drilling

(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.

See Also

Earnings History for Borr Drilling (NYSE:BORR)

Receive News & Ratings for Borr Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Borr Drilling and related companies with MarketBeat.com's FREE daily email newsletter.