An issue of Hornbeck Offshore Services (NYSE:HOS) bonds rose 0.8% as a percentage of their face value during trading on Thursday. The debt issue has a 5.875% coupon and will mature on April 1, 2020. The debt is now trading at $62.25 and was trading at $61.50 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.
HOS has been the topic of a number of analyst reports. Zacks Investment Research downgraded Hornbeck Offshore Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday. TheStreet downgraded Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Iberia Capital downgraded Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a research report on Friday, August 5th. Finally, Cowen and Company reduced their price objective on Hornbeck Offshore Services from $8.50 to $6.00 and set a “market perform” rating on the stock in a research report on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.75.
Hornbeck Offshore Services (NYSE:HOS) traded down 2.00% during midday trading on Friday, hitting $5.87. The company had a trading volume of 575,740 shares. The stock has a 50 day moving average of $5.49 and a 200 day moving average of $7.91. Hornbeck Offshore Services has a 52-week low of $4.35 and a 52-week high of $16.67. The firm’s market cap is $213.29 million.
Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by $0.18. Hornbeck Offshore Services had a negative return on equity of 1.60% and a negative net margin of 4.87%. The business had revenue of $53.67 million for the quarter, compared to analyst estimates of $66.74 million. During the same quarter last year, the business earned $0.53 EPS. Hornbeck Offshore Services’s revenue for the quarter was down 60.7% compared to the same quarter last year. On average, analysts anticipate that Hornbeck Offshore Services will post ($1.93) EPS for the current year.
Several large investors have recently bought and sold shares of the company. I.G. Investment Management LTD. boosted 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. Prudential Financial Inc. boosted its stake in Hornbeck Offshore Services by 86.5% in the first quarter. Prudential Financial Inc. now owns 138,166 shares of the company’s stock valued at $1,372,000 after buying an additional 64,100 shares during the period. GSA Capital Partners LLP acquired a new stake in Hornbeck Offshore Services during the second quarter valued at about $404,000. Kennedy Capital Management Inc. boosted 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. Finally, Amici Capital LLC acquired a new stake in Hornbeck Offshore Services during the first quarter valued at about $185,000.
About Hornbeck Offshore Services
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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