Gulfmark Offshore Price Target Increased to $60.00 by Analysts at Credit Suisse (GLF)
Stock analysts at Credit Suisse boosted their price objective on shares of Gulfmark Offshore (NYSE:GLF) from $55.00 to $60.00 in a report issued on Tuesday, Analyst Ratings Network.com reports. Credit Suisse’s target price indicates a potential upside of 19.86% from the stock’s previous close.
In other Gulfmark Offshore news, Director David Butters sold 20,000 shares of Gulfmark Offshore stock on the open market in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $51.35, for a total transaction of $1,027,000.00. Following the transaction, the director now directly owns 501,457 shares of the company’s stock, valued at approximately $25,749,817. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Gulfmark Offshore (NYSE:GLF) traded up 0.62% on Tuesday, hitting $50.06. 94,220 shares of the company’s stock traded hands. Gulfmark Offshore has a one year low of $27.17 and a one year high of $52.22. The stock’s 50-day moving average is $49.56 and its 200-day moving average is $45.89. The company has a market cap of $1.328 billion and a P/E ratio of 62.50.
Gulfmark Offshore (NYSE:GLF) last released its earnings data on Monday, July 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.08. The company had revenue of $111.35 million for the quarter, compared to the consensus estimate of $105.60 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts expect that Gulfmark Offshore will post $2.60 EPS for the current fiscal year.
GLF has been the subject of a number of other recent research reports. Analysts at Cowen and Company initiated coverage on shares of Gulfmark Offshore in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Separately, analysts at Wunderlich initiated coverage on shares of Gulfmark Offshore in a research note to investors on Thursday, September 26th. They set a “hold” rating and a $54.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Sidoti initiated coverage on shares of Gulfmark Offshore in a research note to investors on Thursday, September 5th. They set a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Gulfmark Offshore presently has an average rating of “Buy” and an average target price of $51.63.
GulfMark Offshore, Inc provides offshore marine services primarily to companies involved in the offshore exploration and production of oil and natural gas.
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