Hornbeck Offshore Services (HOS) Bond Prices Rise 0.8%
An issue of Hornbeck Offshore Services (NYSE:HOS) debt rose 0.8% against its face value during trading on Thursday. The high-yield debt issue has a 5.875% coupon and will mature on April 1, 2020. The debt is now trading at $62.25 and was trading at $61.50 one week ago. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
A number of brokerages have issued reports on HOS. Zacks Investment Research downgraded Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 14th. Iberia Capital downgraded Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a research note on Friday, August 5th. TheStreet downgraded Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Cowen and Company cut their price target on Hornbeck Offshore Services from $8.50 to $6.00 and set a “market perform” rating for the company in a research note on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $11.75.
Shares of Hornbeck Offshore Services (NYSE:HOS) opened at 5.99 on Friday. Hornbeck Offshore Services has a 12-month low of $4.35 and a 12-month high of $16.71. The stock’s market cap is $217.65 million. The firm has a 50 day moving average price of $5.47 and a 200 day moving average price of $7.93.
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Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.18. Hornbeck Offshore Services had a negative return on equity of 1.60% and a negative net margin of 4.87%. The business earned $53.67 million during the quarter, compared to analysts’ expectations of $66.74 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was down 60.7% compared to the same quarter last year. On average, equities analysts expect that Hornbeck Offshore Services will post ($1.93) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of HOS. Louisiana State Employees Retirement System boosted its position in Hornbeck Offshore Services by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock valued at $119,000 after buying an additional 100 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in Hornbeck Offshore Services during the second quarter valued at $133,000. Arizona State Retirement System raised its stake in shares of 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 during the last quarter. Amici Capital LLC purchased a new stake in shares of Hornbeck Offshore Services during the first quarter valued at approximately $185,000. Finally, Quantitative Investment Management LLC raised its stake in shares of Hornbeck Offshore Services by 7.4% in the second quarter. Quantitative Investment Management LLC now owns 24,700 shares of the company’s stock valued at $205,000 after buying an additional 1,700 shares during the last quarter.
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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