Borr Drilling (NASDAQ:BORR) issued its earnings results on Thursday. The company reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.72), Fidelity Earnings reports. The company had revenue of $86.60 million for the quarter.
BORR stock traded up $0.48 during midday trading on Friday, reaching $5.60. The company had a trading volume of 15,764 shares, compared to its average volume of 29,084. Borr Drilling has a 1 year low of $4.75 and a 1 year high of $23.35.
Separately, Citigroup initiated coverage on shares of Borr Drilling in a report on Monday. They set a “neutral” rating and a $6.00 target price for the company.
Borr Drilling Limited operates as an offshore drilling contractor to the oil and gas industry worldwide. As of December 31, 2018, the company operated a fleet of 27 jack-up drilling rigs. It provides drilling services to the oil and gas exploration and production industry. The company was formerly known as Magni Drilling Limited.
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