Hornbeck Offshore Services (HOS) Lowered to Strong Sell at Zacks Investment Research
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. “
Other equities research analysts have also recently issued research reports about the company. TheStreet cut Hornbeck Offshore Services from a hold rating to a sell rating in a research note on Wednesday, August 3rd. Iberia Capital cut Hornbeck Offshore Services from a sector perform rating to an underperform rating in a research note 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 for the company in a research note on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $11.75.
Hornbeck Offshore Services (NYSE:HOS) opened at 6.31 on Tuesday. Hornbeck Offshore Services has a 12-month low of $4.35 and a 12-month high of $16.71. The stock has a 50 day moving average of $5.46 and a 200 day moving average of $7.96. The stock’s market cap is $229.28 million.
Hornbeck Offshore Services (NYSE:HOS) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.39) by $0.18. The business had revenue of $53.67 million for the quarter, compared to analysts’ expectations of $66.74 million. Hornbeck Offshore Services had a negative return on equity of 1.60% and a negative net margin of 4.87%. Hornbeck Offshore Services’s revenue for the quarter was down 60.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, equities research analysts anticipate that Hornbeck Offshore Services will post ($1.93) earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of HOS. Louisiana State Employees Retirement System raised its stake in Hornbeck Offshore Services by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock worth $119,000 after buying an additional 100 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in Hornbeck Offshore Services during the second quarter worth approximately $133,000. Arizona State Retirement System raised its stake in 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. Amici Capital LLC bought a new stake in Hornbeck Offshore Services during the first quarter worth approximately $185,000. Finally, Quantitative Investment Management LLC raised its stake in Hornbeck Offshore Services by 7.4% in the second quarter. Quantitative Investment Management LLC now owns 24,700 shares of the company’s stock worth $205,000 after buying an additional 1,700 shares during the last quarter.
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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