Hornbeck Offshore Services (HOS) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $-0.29. The company posted revenue of $76.80 million in the period, compared to analysts expectations of $78.15 million. The company’s revenue was down -42.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
Many Wall Street Analysts have commented on Hornbeck Offshore Services. Hornbeck Offshore Services was Upgraded by Morgan Stanley to ” Equal-Weight” on Apr 20, 2016. Barclays Downgraded Hornbeck Offshore Services on Apr 20, 2016 to ” Equal Weight”, Price Target of the shares are set at $11.Shares were Reiterated by Barclays on Feb 23, 2016 to “Overweight” and Lowered the Price Target to $ 11 from a previous price target of $19 .
Hornbeck Offshore Services closed down -0.27 points or -2.30% at $11.47 with 9,76,734 shares getting traded on Monday. Post opening the session at $11.72, the shares hit an intraday low of $11.03 and an intraday high of $11.76 and the price fluctuated in this range throughout the day.Shares ended Monday 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.