Hornbeck Offshore Services (NYSE:HOS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Hornbeck Offshore provides technologically advanced, new generation OSVs serving the offshore oil and gas industry, primarily in the U.S. Gulf of Mexico and in select international markets. The focus of their OSV business is on complex exploration and production activities, which include deepwater, deep well and other logistically demanding projects. They also transport petroleum products through their tug and tank barge segment serving the energy industry, primarily in the northeastern United States and Puerto Rico. “
Several other equities analysts also recently commented on the stock. Iberia Capital downgraded shares of Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a research note on Friday, August 5th. Cowen and Company lowered their target price on shares of Hornbeck Offshore Services from $8.50 to $6.00 and set a “market perform” rating for the company in a research note on Thursday, October 6th. Finally, TheStreet downgraded shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.75.
Shares of Hornbeck Offshore Services (NYSE:HOS) traded down 1.41% on Tuesday, reaching $6.31. The company had a trading volume of 890,757 shares. The company’s 50 day moving average price is $5.46 and its 200-day moving average price is $7.96. Hornbeck Offshore Services has a 1-year low of $4.35 and a 1-year high of $16.71. The stock’s market capitalization is $229.28 million.
Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings results 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. The business earned $53.67 million during the quarter, compared to analyst estimates of $66.74 million. Hornbeck Offshore Services had a negative return on equity of 1.60% and a negative net margin of 4.87%. The business’s revenue was down 60.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Equities analysts predict that Hornbeck Offshore Services will post ($1.93) EPS for the current year.
Several large investors have recently made changes to their positions in HOS. Schwab Charles Investment Management Inc. boosted its stake in shares of Hornbeck Offshore Services by 18.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 240,674 shares of the company’s stock worth $2,008,000 after buying an additional 37,376 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Hornbeck Offshore Services by 1.8% in the second quarter. Arizona State Retirement System now owns 16,703 shares of the company’s stock worth $139,000 after buying an additional 300 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Hornbeck Offshore Services during the second quarter worth approximately $133,000. Guggenheim Capital LLC boosted its stake in shares of Hornbeck Offshore Services by 6.8% in the second quarter. Guggenheim Capital LLC now owns 203,523 shares of the company’s stock worth $1,697,000 after buying an additional 12,979 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Hornbeck Offshore Services by 146.3% in the second quarter. Parametric Portfolio Associates LLC now owns 81,980 shares of the company’s stock worth $684,000 after buying an additional 48,701 shares during the last quarter.
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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