Hornbeck Offshore Services (HOS) is Downgraded by Iberia to Underperform

Hornbeck Offshore Services (HOS) was Downgraded by Iberia to ” Underperform”. Earlier the firm had a rating of “Sector Perform ” on the company shares. Iberia advised their investors in a research report released on Aug 5, 2016.

On the company’s financial health, Hornbeck Offshore Services reported $-0.57 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.39. The company had revenue of $53.67 million for the quarter, compared to analysts expectations of $66.11 million. The company’s revenue was down -60.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Hornbeck Offshore Services closed down -1.54 points or -19.57% at $6.33 with 41,89,852 shares getting traded on Thursday. Post opening the session at $7.83, the shares hit an intraday low of $6.28 and an intraday high of $7.89 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Feb 25, 2016, Patricia B Melcher (director) purchased 7,000 shares at $7.00 per share price. According to the SEC, on Jan 21, 2016, James O Jr Harp (CFO) purchased 10,000 shares at $6.50 per share price. On Jan 20, 2016, Carl G Annessa (COO) purchased 20,000 shares at $6.74 per share price, according to the Form-4 filing with the securities and exchange commission.

Hornbeck Offshore Services Inc. is a provider of 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 the provision of marine solutions to meet the needs of the deepwater and ultradeepwater energy industry in domestic and select foreign locations. The Company owns and operates a fleet of United States-flagged OSVs and MPSVs. These vessels support the deep-well deepwater and ultra-deepwater activities of the offshore oil and gas industry. The Company operates in three core geographic markets: the Gulf of Mexico (GoM) Mexico and Brazil. The Company has operated in the Middle East the Mediterranean Sea the Black Sea and the Caribbean basin including Nicaragua Guyana Trinidad and Venezuela. The Company also operates a shore-base support facility located in Port Fourchon Louisiana.

Hornbeck Offshore Services

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