Hornbeck Offshore Services (HOS) Cut to Underperform at Credit Suisse Group

Hornbeck Offshore Services (NYSE:HOS) was downgraded by analysts at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, The Fly reports.

Other analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Hornbeck Offshore Services from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded shares of Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $4.00.

Shares of Hornbeck Offshore Services (HOS) opened at $3.95 on Friday. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.75. Hornbeck Offshore Services has a 1 year low of $1.51 and a 1 year high of $8.52. The company has a market cap of $146.35, a price-to-earnings ratio of -1.70 and a beta of 1.29.

Hornbeck Offshore Services (NYSE:HOS) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.51) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.73) by $0.22. Hornbeck Offshore Services had a negative net margin of 48.34% and a negative return on equity of 7.00%. The business had revenue of $53.70 million during the quarter, compared to analysts’ expectations of $41.25 million. During the same quarter in the prior year, the company earned ($0.45) EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. equities research analysts forecast that Hornbeck Offshore Services will post -2.92 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Hornbeck Offshore Services by 374.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 262,542 shares of the oil and gas company’s stock valued at $743,000 after buying an additional 207,212 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Hornbeck Offshore Services in the 2nd quarter valued at $568,000. Goldman Sachs Group Inc. increased its position in shares of Hornbeck Offshore Services by 86.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 117,476 shares of the oil and gas company’s stock valued at $332,000 after buying an additional 54,431 shares in the last quarter. Brookfield Asset Management Inc. bought a new stake in shares of Hornbeck Offshore Services in the 2nd quarter valued at $991,000. Finally, Brandes Investment Partners LP increased its position in shares of Hornbeck Offshore Services by 316.7% in the 3rd quarter. Brandes Investment Partners LP now owns 66,503 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 50,545 shares in the last quarter. Institutional investors and hedge funds own 77.54% of the company’s stock.

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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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