Hornbeck Offshore Services (HOS) Trading Down 4.7% on Analyst Downgrade
Hornbeck Offshore Services (NYSE:HOS) shares dropped 4.7% during mid-day trading on Friday after Cowen and Company lowered their price target on the stock from $8.50 to $6.00. Cowen and Company currently has a market perform rating on the stock. Hornbeck Offshore Services traded as low as $5.94 and last traded at $6.10, with a volume of 715,407 shares traded. The stock had previously closed at $6.40.
Several other research analysts have also issued reports on HOS. Zacks Investment Research lowered shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 14th. TheStreet lowered shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Iberia Capital lowered shares of Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $11.75.
Institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Hornbeck Offshore Services by 18.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 240,674 shares of the company’s stock valued at $2,008,000 after buying an additional 37,376 shares during the period. 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 valued at $139,000 after buying an additional 300 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Hornbeck Offshore Services during the second quarter valued at approximately $133,000. Guggenheim Capital LLC raised its stake in Hornbeck Offshore Services by 6.8% in the second quarter. Guggenheim Capital LLC now owns 203,523 shares of the company’s stock valued at $1,697,000 after buying an additional 12,979 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Hornbeck Offshore Services by 146.3% in the second quarter. Parametric Portfolio Associates LLC now owns 81,980 shares of the company’s stock valued at $684,000 after buying an additional 48,701 shares in the last quarter.
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The company’s market cap is $221.83 million. The company has a 50 day moving average of $5.42 and a 200-day moving average of $8.05.
Hornbeck Offshore Services (NYSE:HOS) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by $0.18. The company earned $53.67 million during the quarter, compared to analysts’ expectations of $66.74 million. Hornbeck Offshore Services had a negative net margin of 4.87% and a negative return on equity of 1.60%. The business’s quarterly revenue was down 60.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. Equities research analysts forecast that Hornbeck Offshore Services will post ($1.93) earnings per share for the current year.
Hornbeck Offshore Services Company Profile
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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