The Hornbeck Offshore Services (HOS) Bonds Trading 0.8% Higher

The Hornbeck Offshore Services (HOS) Bonds Trading 0.8% Higher

An issue of Hornbeck Offshore Services (NYSE:HOS) bonds rose 0.8% against their face value during trading on Wednesday. The debt issue has a 5.875% coupon and will mature on April 1, 2020. The bonds in the issue are now trading at $62.25 and were trading at $61.50 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

Several research firms recently weighed in on HOS. Zacks Investment Research cut shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Iberia Capital cut shares of Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a research note on Friday, August 5th. TheStreet cut shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Cowen and Company dropped their target price on shares of Hornbeck Offshore Services from $8.50 to $6.00 and set a “market perform” rating on the stock in a research note on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Hornbeck Offshore Services has an average rating of “Hold” and an average target price of $11.75.

Shares of Hornbeck Offshore Services (NYSE:HOS) opened at 5.88 on Thursday. The stock has a 50 day moving average of $5.46 and a 200 day moving average of $7.94. Hornbeck Offshore Services has a 52-week low of $4.35 and a 52-week high of $16.71. The company’s market cap is $213.66 million.

Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.18. The business earned $53.67 million during the quarter, compared to analysts’ expectations of $66.74 million. Hornbeck Offshore Services had a negative return on equity of 1.60% and a negative net margin of 4.87%. The business’s quarterly revenue was down 60.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. On average, equities research analysts expect that Hornbeck Offshore Services will post ($1.93) EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Hornbeck Offshore Services by 3.1% in the second quarter. Vanguard Group Inc. now owns 2,846,745 shares of the company’s stock worth $23,742,000 after buying an additional 86,901 shares during the last quarter. Mackenzie Financial Corp increased its position in Hornbeck Offshore Services by 7.6% in the second quarter. Mackenzie Financial Corp now owns 2,236,861 shares of the company’s stock worth $18,655,000 after buying an additional 157,600 shares during the last quarter. I.G. Investment Management LTD. increased its position in Hornbeck Offshore Services by 11.7% in the second quarter. I.G. Investment Management LTD. now owns 875,500 shares of the company’s stock worth $7,302,000 after buying an additional 91,900 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Hornbeck Offshore Services by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 802,631 shares of the company’s stock worth $6,694,000 after buying an additional 4,255 shares during the last quarter. Finally, Kennedy Capital Management Inc. increased its position in Hornbeck Offshore Services by 45.5% in the first quarter. Kennedy Capital Management Inc. now owns 800,886 shares of the company’s stock worth $7,953,000 after buying an additional 250,302 shares during the last quarter.

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