GulfMark Offshore Inc. (GLF) Rating Lowered to Sell at Zacks Investment Research
GulfMark Offshore Inc. (NYSE:GLF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “GulfMark Offshore, Inc. is a corporation that provides offshore marine services primarily to companies involved in offshore exploration and production of oil and natural gas. Their vessels transport drilling materials, supplies and personnel to offshore facilities, as well as move and position drilling structures. “
Separately, Morgan Stanley cut their price target on GulfMark Offshore from $5.50 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, July 28th.
Shares of GulfMark Offshore (NYSE:GLF) opened at 1.61 on Wednesday. GulfMark Offshore has a 52-week low of $1.46 and a 52-week high of $8.92. The company has a 50 day moving average price of $2.19 and a 200-day moving average price of $3.87. The stock’s market capitalization is $43.21 million.
GulfMark Offshore (NYSE:GLF) last announced its quarterly earnings results on Tuesday, July 26th. The company reported ($0.57) earnings per share for the quarter, hitting the consensus estimate of ($0.57). The company had revenue of $30.50 million for the quarter, compared to the consensus estimate of $31.91 million. GulfMark Offshore had a negative return on equity of 7.75% and a negative net margin of 188.68%. The firm’s revenue for the quarter was down 59.1% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. On average, analysts predict that GulfMark Offshore will post ($2.48) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. LMR Partners LLP acquired a new stake in GulfMark Offshore during the second quarter worth approximately $100,000. Kalos Management Inc. boosted its stake in GulfMark Offshore by 96.1% in the second quarter. Kalos Management Inc. now owns 35,133 shares of the company’s stock worth $110,000 after buying an additional 17,217 shares during the period. A.R.T. Advisors LLC acquired a new stake in GulfMark Offshore during the second quarter worth approximately $126,000. KCG Holdings Inc. boosted its stake in GulfMark Offshore by 42.5% in the second quarter. KCG Holdings Inc. now owns 40,979 shares of the company’s stock worth $128,000 after buying an additional 12,226 shares during the period. Finally, Alpine Partners VI LLC acquired a new stake in GulfMark Offshore during the second quarter worth approximately $162,000. Hedge funds and other institutional investors own 76.78% of the company’s stock.
GulfMark Offshore Company Profile
GulfMark Offshore, Inc provides offshore marine support and transportation services. The Company offers these services to companies engaged in the offshore exploration and production of oil and natural gas. The Company operates in three segments: the North Sea (N. Sea), Southeast Asia (SEA) and the Americas.
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