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Borr Drilling Limited (NYSE: BORR) Has Fallen -20.62% From Its Highs, What Comes Next?

Borr Drilling Limited (NYSE:BORR)’s traded shares stood at 2.26 million during the last session. At the close of trading, the stock’s price was $6.40, to imply an increase of 4.40% or $0.27 in intraday trading. The BORR share’s 52-week high remains $7.72, putting it -20.62% down since that peak but still an impressive 61.72% since price per share fell to its 52-week low of $2.45. The company has a valuation of $1.63B, with an average of 2.12 million shares in intraday trading volume over the past 10 days and average of 1.68 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Borr Drilling Limited (BORR), translating to a mean rating of 1.00. Of 7 analyst(s) looking at the stock, 0 analyst(s) give BORR a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 6 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.09.

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Borr Drilling Limited (NYSE:BORR) trade information

After registering a 4.40% upside in the last session, Borr Drilling Limited (BORR) has traded red over the past five days. The stock hit a weekly high of 7.24 this Thursday, 03/16/23, jumping 4.40% in its intraday price action. The 5-day price performance for the stock is -8.57%, and -5.60% over 30 days. With these gigs, the year-to-date price performance is 28.77%. Short interest in Borr Drilling Limited (NYSE:BORR) saw shorts transact 10.31 million shares and set a 6.61 days time to cover.

Analysts on Wall Street suggest a consensus price target of $9.15, implying an increase of 30.05% to the stock’s current value. The extremes give us $8.50 and $10.00 for target low and target high price respectively. As such, BORR has been trading -56.25% off suggested target high and -32.81% from its likely low.

Borr Drilling Limited (BORR) estimates and forecasts

Revenue is forecast to grow 73.50% this quarter before jumping 117.10% for the next one. The rating firms project that company’s revenue will grow 75.10% compared to the previous financial year.

Revenue forecast for the current quarter as set by 1 analysts is $134.4 million. Meanwhile, for the quarter ending Mar 2023, a total of 1 analyst(s) estimate revenue growth to $152.2 million.Earnings reports from the last fiscal year show that sales brought in $69.1 million and $82 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 94.50% before jumping 85.60% in the following quarter.

BORR Dividends

Borr Drilling Limited has its next earnings report out in April. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Borr Drilling Limited has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Borr Drilling Limited (NYSE:BORR)’s Major holders

Borr Drilling Limited insiders hold 9.56% of total outstanding shares, with institutional holders owning 46.24% of the shares at 51.13% float percentage. In total, 46.24% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 12.32 million shares (or 5.04% of shares), all amounting to roughly $40.91 million.

The next major institution holding the largest number of shares is Orbis Allan Gray Ltd with 9.09 million shares, or about 3.72% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $30.18 million.

We also have iShares Russell 2000 ETF and Fidelity Small Cap Index Fund as the top two Mutual Funds with the largest holdings of the Borr Drilling Limited (BORR) shares. Going by data provided on Dec 30, 2022, iShares Russell 2000 ETF holds roughly 4.51 million shares. This is just over 1.84% of the total shares, with a market valuation of $22.4 million. Data from the same date shows that the other fund manager holds a little less at 1.56 million, or 0.64% of the shares, all valued at about 7.28 million.

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