Valaris suffers rig incident on key drillship; Total may terminate contract [Seeking Alpha]
Valaris Limited Common Shares (VAL)
Last valaris limited common shares earnings: 4/29 09:50 pm
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Source: Seeking Alpha
Energy Valaris suffers rig incident on key drillship; Total may terminate contract Mar. 10, 2020 6:46 PM ET | Valaris plc (VAL) Carl Surran Valaris (NYSE: -10.6% On March 7, the company says its Valaris DS-8 Operator Total (NYSE: TOT The DS-8 is Valaris' highest earnings contributing rig, whose $620K dayrate is one of the highest left in the market, and Total is seen as likely to terminate the contract. Valaris' own backlog as well as its FY 2020 EBITDA would drop by $150M, more than half of its 2020 adjusted EBITDA guidance of $210M-$240M, according to contributor Vladimir Zernov. Ahead of the news, J.P. Morgan downgraded shares to Underweight on weak backlog and an over-levered balance sheet. Click to subscribe to real-time analytics on VAL Now read: Valaris: Likely To Continue To Struggle Despite A Few Bright Spots In Results »
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VAL
News
- Valaris Limited (NYSE: VAL) had its "equal weight" rating re-affirmed by analysts at Barclays PLC. They now have a $49.00 price target on the stock, down previously from $59.00.MarketBeat
- Valaris Limited (NYSE: VAL) was downgraded by analysts at Citigroup Inc. from a "buy" rating to a "neutral" rating. They now have a $47.00 price target on the stock, down previously from $58.00.MarketBeat
- Valaris Limited (NYSE: VAL) is now covered by analysts at JPMorgan Chase & Co.. They set an "underweight" rating and a $40.00 price target on the stock.MarketBeat
- Valaris Limited (NYSE: VAL) had its price target lowered by analysts at Citigroup Inc. from $71.00 to $58.00. They now have a "buy" rating on the stock.MarketBeat
- Valaris Limited (NYSE: VAL) had its price target lowered by analysts at Barclays PLC from $61.00 to $59.00. They now have an "overweight" rating on the stock.MarketBeat
VAL
Earnings
- 10/30/24 - Miss
VAL
Sec Filings
- 12/5/24 - Form 4
- 12/5/24 - Form 4
- 11/29/24 - Form SC
- VAL's page on the SEC website