Borr Drilling (NYSE:BORR) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Borr Drilling (NYSE:BORRGet Free Report) posted its earnings results on Thursday. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.22, reports. Borr Drilling had a negative net margin of 13.44% and a negative return on equity of 8.33%. The company had revenue of $191.50 million during the quarter.

Borr Drilling Stock Performance

Borr Drilling stock traded up $0.09 during trading hours on Friday, hitting $6.24. 989,164 shares of the stock traded hands, compared to its average volume of 1,524,954. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.86 and a quick ratio of 0.86. Borr Drilling has a 1 year low of $4.03 and a 1 year high of $9.01. The firm’s 50 day moving average price is $6.75 and its 200-day moving average price is $7.19. The stock has a market capitalization of $951.54 million, a price-to-earnings ratio of -14.95 and a beta of 3.21.

Institutional Trading of Borr Drilling

Several institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in Borr Drilling by 157.1% during the third quarter. Tower Research Capital LLC TRC now owns 14,059 shares of the company’s stock worth $47,000 after purchasing an additional 8,591 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Borr Drilling in the 2nd quarter worth $59,000. Principal Financial Group Inc. acquired a new stake in shares of Borr Drilling during the second quarter worth $62,000. JPMorgan Chase & Co. purchased a new position in Borr Drilling during the first quarter valued at approximately $66,000. Finally, Kestra Advisory Services LLC bought a new stake in Borr Drilling in the second quarter worth $75,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

About Borr Drilling

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Borr Drilling Limited operates as an offshore 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)

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