Borr Drilling Limited (NYSE: BORR) stock fell -2.90% on Tuesday to $5.69 against a previous-day closing price of $5.86. With 0.66 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.13 million shares. During the session, the Oil & Gas Drilling company that operates in wider Energy sector, reached to the highest price of $5.86 whereas the lowest price it dropped to was $5.60. The 52-week range on BORR shows that it touched its highest point at $6.96 and its lowest point at $1.75 during that stretch. It currently has a 1-year price target of $7.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BORR was down-trending over the past week, with a drop of -5.17%, but this was up by 21.06% over a month. Three-month performance surged to 46.27% while six-month performance rose 81.79%. The stock gained 173.56% in the past year, while it has gained 14.49% so far this year. A look at the trailing 12-month EPS for BORR yields -1.37 with Next year EPS estimates of 0.28. For the next quarter, that number is -0.11. This implies an EPS growth rate of -21.70% for this year and 116.10% for next year.
Float and Shares Shorts:
At present, 228.86 million BORR shares are outstanding with a float of 162.88 million shares on hand for trading. On Dec 29, 2022, short shares totaled 4.59 million, which was 2.01% higher than short shares on Nov 29, 2022. In addition to Mr. Patrick Arnold Henk Schorn as the firm’s Chief Exec. Officer, Mr. Magnus Vaaler serves as its Chief Financial Officer.
Through their ownership of 43.50% of BORR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of BORR, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 3.26% stake in BORR, the azValor Internacional, FI is the largest stakeholder. A total of 7,483,128 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.93% of BORR stock, is the second-largest Mutual Fund holder. It holds 4,412,987 shares valued at 23.9 million. DNB SMB holds 0.74% of the stake in BORR, owning 1,698,534 shares worth 9.2 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, BORR reported revenue of $105.30M and operating income of $700.00k. The EBITDA in the recently reported quarter was $24.60M and diluted EPS was -$1.09.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BORR since 7 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BORR analysts setting a high price target of $8.00 and a low target of $5.62, the average target price over the next 12 months is $6.74. Based on these targets, BORR could surge 40.6% to reach the target high and fall by -1.23% to reach the target low. Reaching the average price target will result in a growth of 18.45% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BORR will report FY 2022 earnings on 02/29/2024. Analysts have provided yearly estimates in a range of -$0.58 being high and -$1.64 being low. For BORR, this leads to a yearly average estimate of -$1.07. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Borr Drilling Limited surprised analysts by -$0.11 when it reported -$0.30 EPS against a consensus estimate of -$0.19. The surprise factor in the prior quarter was -$0.67. The average estimate for the next quarter is thus -$0.05.
Summary of Insider Activity:
Insiders traded BORR stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 5,678,055 while 0 shares were sold.