Hornbeck Offshore Services (HOS) Announces Quarterly Earnings Results
Hornbeck Offshore Services (NYSE:HOS) released its quarterly earnings data on Wednesday. The oil and gas company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.22, Briefing.com reports. The firm had revenue of $53.70 million for the quarter, compared to analyst estimates of $41.25 million. Hornbeck Offshore Services had a negative return on equity of 6.72% and a negative net margin of 47.42%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share.
A number of brokerages have recently weighed in on HOS. Seaport Global Securities reiterated a “neutral” rating on shares of Hornbeck Offshore Services in a research note on Monday, August 7th. Zacks Investment Research upgraded Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Piper Jaffray Companies reiterated a “hold” rating and set a $3.50 target price on shares of Hornbeck Offshore Services in a research note on Thursday, August 3rd. Finally, ValuEngine lowered Hornbeck Offshore Services from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Hornbeck Offshore Services has a consensus rating of “Hold” and a consensus price target of $3.50.
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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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