Zacks Research Downgrades SEACOR Marine (NYSE:SMHI) to Hold

SEACOR Marine (NYSE:SMHI) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports.

SMHI has been the subject of several other reports. Clarkson Capital lowered SEACOR Marine from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SEACOR Marine in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut SEACOR Marine from a “buy” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $7.00.

SEACOR Marine Price Performance

NYSE SMHI opened at $5.96 on Monday. The stock’s 50-day moving average price is $6.82 and its two-hundred day moving average price is $6.28. The company has a market cap of $160.72 million, a PE ratio of -4.23 and a beta of 1.30. The company has a current ratio of 2.39, a quick ratio of 2.36 and a debt-to-equity ratio of 1.12. SEACOR Marine has a 1 year low of $3.63 and a 1 year high of $7.88.

SEACOR Marine (NYSE:SMHI) last released its earnings results on Wednesday, October 29th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.76. The company had revenue of $59.19 million during the quarter, compared to analyst estimates of $65.89 million. SEACOR Marine had a negative return on equity of 6.67% and a negative net margin of 16.08%. On average, analysts predict that SEACOR Marine will post -2.54 EPS for the current year.

Insider Activity at SEACOR Marine

In other SEACOR Marine news, Director Julie Persily sold 7,000 shares of SEACOR Marine stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $7.45, for a total transaction of $52,150.00. Following the sale, the director owned 85,476 shares in the company, valued at $636,796.20. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 14.60% of the company’s stock.

Institutional Trading of SEACOR Marine

Several hedge funds have recently modified their holdings of SMHI. First Eagle Investment Management LLC raised its holdings in shares of SEACOR Marine by 4.8% in the second quarter. First Eagle Investment Management LLC now owns 1,137,894 shares of the company’s stock valued at $5,803,000 after buying an additional 52,000 shares during the last quarter. First Manhattan CO. LLC. boosted its stake in SEACOR Marine by 1.5% in the first quarter. First Manhattan CO. LLC. now owns 356,465 shares of the company’s stock valued at $1,804,000 after acquiring an additional 5,100 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of SEACOR Marine by 5.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 207,500 shares of the company’s stock worth $1,347,000 after purchasing an additional 10,100 shares during the last quarter. Glenorchy Capital Ltd grew its position in shares of SEACOR Marine by 2.5% during the 2nd quarter. Glenorchy Capital Ltd now owns 185,232 shares of the company’s stock worth $945,000 after buying an additional 4,574 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in SEACOR Marine by 21.2% during the third quarter. JPMorgan Chase & Co. now owns 171,390 shares of the company’s stock valued at $1,112,000 after purchasing an additional 29,955 shares during the period. Institutional investors and hedge funds own 59.05% of the company’s stock.

About SEACOR Marine

SEACOR Marine (NYSE:SMHI) is a U.S.-based provider of offshore marine transportation and support services, offering a fleet of platform supply vessels (PSVs), crew transfer vessels, and specialty craft designed for the energy sector. The company serves clients engaged in offshore oil and gas exploration and production, as well as emerging offshore wind and renewable energy projects. Its services include cargo and personnel transfer, subsea support, emergency response, and project logistics.

Formed through the combination of SEACOR Holdings’ offshore marine division and acquired assets from Hornbeck Offshore Services, SEACOR Marine brings together a broad range of technical expertise and vessel capabilities.