Borr Drilling (NYSE:BORR) Posts Earnings Results, Beats Estimates By $0.22 EPS

Posted by Maddie Sorensen on Nov 19th, 2023

Borr Drilling (NYSE:BORR – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Up 0.7 %

BORR opened at $6.19 on Friday. The firm’s 50-day simple moving average is $6.73 and its 200-day simple moving average is $7.19. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.86 and a current ratio of 0.86. Borr Drilling has a twelve month low of $4.03 and a twelve month high of $9.01. The firm has a market cap of $943.94 million, a price-to-earnings ratio of -51.58 and a beta of 3.21.

Institutional Investors Weigh In On Borr Drilling

Several large investors have recently made changes to their positions in BORR. JPMorgan Chase & Co. bought a new stake in shares of Borr Drilling in the 1st quarter worth about $66,000. Dimensional Fund Advisors LP bought a new stake in Borr Drilling during the 1st quarter worth about $552,000. Renaissance Technologies LLC grew its holdings in Borr Drilling by 3,450.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,059,611 shares of the company’s stock worth $3,570,000 after acquiring an additional 1,029,768 shares during the last quarter. Williams Jones Wealth Management LLC. bought a new stake in Borr Drilling during the 1st quarter worth about $336,000. Finally, Invesco Ltd. grew its holdings in Borr Drilling by 63.8% during the 1st quarter. Invesco Ltd. now owns 79,106 shares of the company’s stock worth $265,000 after acquiring an additional 30,799 shares during the last quarter. Institutional investors 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.