Borr Drilling (NYSE:BORR) Issues Earnings Results

Borr Drilling (NYSE:BORR) announced its earnings results on Wednesday. The company reported $0.04 earnings per share (EPS) 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 Trading Down 7.7 %

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

Borr Drilling Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Borr Drilling Company Profile

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.