Hornbeck Offshore Services Price Target Raised to $70.00 at Credit Suisse (HOS)
Research analysts at Credit Suisse lifted their price target on shares of Hornbeck Offshore Services (NYSE:HOS) from $65.00 to $70.00 in a report released on Tuesday, AmericanBankingNews.com reports. Credit Suisse’s price objective would indicate a potential upside of 24.22% from the company’s current price.
Hornbeck Offshore Services (NYSE:HOS) traded down 0.37% on Tuesday, hitting $56.35. 954,217 shares of the company’s stock traded hands. Hornbeck Offshore Services has a 1-year low of $31.96 and a 1-year high of $59.40. The stock’s 50-day moving average is $56.70 and its 200-day moving average is $52.69. The company has a market cap of $2.030 billion and a price-to-earnings ratio of 42.18.
Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.15. The company had revenue of $154.30 million for the quarter, compared to the consensus estimate of $148.30 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, analysts predict that Hornbeck Offshore Services will post $2.49 earnings per share for the current fiscal year.
A number of other firms have also recently commented on HOS. Analysts at Cowen and Company initiated coverage on shares of Hornbeck Offshore Services 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 Hornbeck Offshore Services in a research note to investors on Thursday, September 26th. They set a “buy” rating and a $70.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Hornbeck Offshore Services in a research note to investors on Friday, August 30th. They set an “overweight” rating and a $67.00 price target on the stock. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $66.13.
Hornbeck Offshore Services, Inc, is a provider of marine transportation services to exploration and production, oilfield service, offshore construction and United States military customers.
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