Hornbeck Offshore Services (NYSE:HOS) dropped 4.7% during trading on Friday after Cowen and Company lowered their price target on the stock from $8.50 to $6.00. Cowen and Company currently has a market perform rating on the stock. Hornbeck Offshore Services traded as low as $5.94 and last traded at $6.10, with a volume of 715,407 shares changing hands. The stock had previously closed at $6.40.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Hornbeck Offshore Services from a “strong sell” rating to a “hold” rating in a report on Thursday, August 11th. TheStreet lowered shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Finally, Iberia Capital lowered shares of Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $11.75.
A number of hedge funds and other institutional investors have recently modified their holdings of HOS. Kennedy Capital Management Inc. increased its stake in Hornbeck Offshore Services by 45.5% in the first quarter. Kennedy Capital Management Inc. now owns 800,886 shares of the company’s stock valued at $7,953,000 after buying an additional 250,302 shares during the period. Prudential Financial Inc. increased its stake in Hornbeck Offshore Services by 160.3% in the second quarter. Prudential Financial Inc. now owns 359,646 shares of the company’s stock valued at $2,999,000 after buying an additional 221,480 shares during the period. Mackenzie Financial Corp increased its stake in Hornbeck Offshore Services by 7.6% in the second quarter. Mackenzie Financial Corp now owns 2,236,861 shares of the company’s stock valued at $18,655,000 after buying an additional 157,600 shares during the period. I.G. Investment Management LTD. increased its stake in Hornbeck Offshore Services by 11.7% in the second quarter. I.G. Investment Management LTD. now owns 875,500 shares of the company’s stock valued at $7,302,000 after buying an additional 91,900 shares during the period. Finally, Vanguard Group Inc. increased its stake in Hornbeck Offshore Services by 3.1% in the second quarter. Vanguard Group Inc. now owns 2,846,745 shares of the company’s stock valued at $23,742,000 after buying an additional 86,901 shares during the period.
The firm’s market cap is $224.92 million. The company’s 50 day moving average is $5.43 and its 200-day moving average is $8.02.
Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.18. Hornbeck Offshore Services had a negative net margin of 4.87% and a negative return on equity of 1.60%. The business earned $53.67 million during the quarter, compared to analysts’ expectations of $66.74 million. During the same period in the previous year, the business posted $0.53 EPS. The company’s revenue for the quarter was down 60.7% compared to the same quarter last year. On average, analysts predict that Hornbeck Offshore Services will post ($1.93) earnings per share for the current fiscal year.
Hornbeck Offshore Services Company Profile
Hornbeck Offshore Services Inc provides marine transportation, subsea installation and accommodation support services to exploration and production, oilfield service, offshore construction and the United States military customers. The Company focuses on providing marine solutions for the deepwater and ultradeepwater energy industry in domestic and select foreign locations.
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