Gulfmark Offshore (GLF) Posts Quarterly Results
Gulfmark Offshore (NYSE:GLF) released its earnings data on Wednesday. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.04, American Banking & Market News reports. The company had revenue of $121.80 million for the quarter, compared to the consensus estimate of $122.70 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 19.6% on a year-over-year basis.
In other Gulfmark Offshore news, CEO Bruce A. Streeter sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $52.08, for a total value of $1,302,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on GLF. Analysts at Zacks upgraded shares of Gulfmark Offshore from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 15th. They now have a $55.70 price target on the stock. On a related note, analysts at Wunderlich reiterated a “hold” rating on shares of Gulfmark Offshore in a research note to investors on Tuesday, October 8th. They now have a $54.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Gulfmark Offshore from $55.00 to $60.00 in a research note to investors on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Gulfmark Offshore presently has a consensus rating of “Buy” and an average target price of $52.67.
Gulfmark Offshore (NYSE:GLF) opened at 53.53 on Wednesday. Gulfmark Offshore has a 1-year low of $27.17 and a 1-year high of $52.22. The stock has a 50-day moving average of $48.59 and a 200-day moving average of $44.05. The company has a market cap of $1.420 billion and a price-to-earnings ratio of 66.73.
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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