Hornbeck Offshore Services (HOS) Bonds Trading 0.8% Higher
An issue of Hornbeck Offshore Services (NYSE:HOS) bonds rose 0.8% against their face value during trading on Wednesday. The debt issue has a 5.875% coupon and will mature on April 1, 2020. The bonds in the issue are now trading at $62.25 and were trading at $61.50 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.
Several research firms recently weighed in on HOS. Zacks Investment Research cut shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Iberia Capital cut shares of Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a research note on Friday, August 5th. TheStreet cut shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Cowen and Company dropped their target price on shares of Hornbeck Offshore Services from $8.50 to $6.00 and set a “market perform” rating on the stock in a research note on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Hornbeck Offshore Services has an average rating of “Hold” and an average target price of $11.75.
Shares of Hornbeck Offshore Services (NYSE:HOS) opened at 5.88 on Thursday. The stock has a 50 day moving average of $5.46 and a 200 day moving average of $7.94. Hornbeck Offshore Services has a 52-week low of $4.35 and a 52-week high of $16.71. The company’s market cap is $213.66 million.
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Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.18. The business earned $53.67 million during the quarter, compared to analysts’ expectations of $66.74 million. Hornbeck Offshore Services had a negative return on equity of 1.60% and a negative net margin of 4.87%. The business’s quarterly revenue was down 60.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. On average, equities research analysts expect that Hornbeck Offshore Services will post ($1.93) EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Hornbeck Offshore Services by 3.1% in the second quarter. Vanguard Group Inc. now owns 2,846,745 shares of the company’s stock worth $23,742,000 after buying an additional 86,901 shares during the last quarter. Mackenzie Financial Corp increased its position in Hornbeck Offshore Services by 7.6% in the second quarter. Mackenzie Financial Corp now owns 2,236,861 shares of the company’s stock worth $18,655,000 after buying an additional 157,600 shares during the last quarter. I.G. Investment Management LTD. increased its position in Hornbeck Offshore Services by 11.7% in the second quarter. I.G. Investment Management LTD. now owns 875,500 shares of the company’s stock worth $7,302,000 after buying an additional 91,900 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Hornbeck Offshore Services by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 802,631 shares of the company’s stock worth $6,694,000 after buying an additional 4,255 shares during the last quarter. Finally, Kennedy Capital Management Inc. increased its position in Hornbeck Offshore Services by 45.5% in the first quarter. Kennedy Capital Management Inc. now owns 800,886 shares of the company’s stock worth $7,953,000 after buying an additional 250,302 shares during the last quarter.
About Hornbeck Offshore Services
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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