Borr Drilling: Generous Dividend Increase Is A Strong Sign Of Confidence - Hold [Seeking Alpha]
Borr Drilling Limited Common Shares (BORR)
Company Research
Source: Seeking Alpha
Adjusted EBITDA margin of 49.9% reached new all-time highs with the company outperforming peers handsomely. The company reiterated expectations for full-year Adjusted EBITDA of $500 million to $550 million. In a surprise move, Borr Drilling doubled its quarterly cash dividend to $0.10 per share. Annual dividend yield calculates to an attractive 6.5%. While management's commentary and commitment to shareholder capital returns is encouraging, my upwardly revised estimates and price target are not sufficient to upgrade the stock. Reiterating "Hold" rating with an increased price target of $7. Note: I have covered Borr Drilling Limited ( NYSE: BORR ) previously, so investors should view this as an update to my earlier articles on the company. Last month, leading offshore driller Borr Drilling reported Q1/2024 results somewhat below estimates due to a Recommended For You Recommended For You
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BORR
News
- SGX's Hidden Value Gems For September 2024 [Yahoo! Finance]Yahoo! Finance
- Borr Drilling Limited (NYSE: BORR) was upgraded by analysts at Evercore ISI from an "in-line" rating to an "outperform" rating. They now have a $9.00 price target on the stock.MarketBeat
- Borr Drilling Limited to Present at the Pareto Securities' 31st Annual Energy Conference [Yahoo! Finance]Yahoo! Finance
- Borr Drilling Limited to Present at the Pareto Securities' 31st Annual Energy ConferencePR Newswire
- Borr Drilling Limited - Notice of Special General Meeting of Shareholders [Yahoo! Finance]Yahoo! Finance
BORR
Sec Filings
- 9/11/24 - Form 6-K
- 9/4/24 - Form 6-K
- 8/15/24 - Form 6-K
- BORR's page on the SEC website