Hornbeck Offshore Services (NYSE:HOS) had its price target dropped by stock analysts at Cowen and Company from $8.50 to $6.00 in a note issued to investors on Thursday. The firm currently has a “market perform” rating on the stock. Cowen and Company’s target price would suggest a potential downside of 5.21% from the company’s current price.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 14th. TheStreet downgraded shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Iberia Capital downgraded shares of Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a research note on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Hornbeck Offshore Services presently has an average rating of “Hold” and an average target price of $11.75.
Shares of Hornbeck Offshore Services (NYSE:HOS) traded down 1.74% during trading on Thursday, reaching $6.22. 540,448 shares of the company traded hands. The stock’s market capitalization is $226.01 million. The company has a 50-day moving average of $5.39 and a 200-day moving average of $8.06. Hornbeck Offshore Services has a 12 month low of $4.35 and a 12 month high of $17.69.
Hornbeck Offshore Services (NYSE:HOS) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.18. Hornbeck Offshore Services had a negative net margin of 4.87% and a negative return on equity of 1.60%. The company earned $53.67 million during the quarter, compared to analyst estimates of $66.74 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Hornbeck Offshore Services’s revenue for the quarter was down 60.7% on a year-over-year basis. Analysts forecast that Hornbeck Offshore Services will post ($1.93) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in 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 worth $2,008,000 after buying an additional 37,376 shares during the period. Arizona State Retirement System boosted its position 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 worth $139,000 after buying an additional 300 shares during the period. A.R.T. Advisors LLC bought a new position in Hornbeck Offshore Services during the second quarter worth approximately $133,000. Guggenheim Capital LLC boosted its position in Hornbeck Offshore Services by 6.8% in the second quarter. Guggenheim Capital LLC now owns 203,523 shares of the company’s stock worth $1,697,000 after buying an additional 12,979 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position 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 worth $684,000 after buying an additional 48,701 shares during the period.
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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