Acquiring New Vessels Helps Hornbeck Grow

Wednesday, April 02, 2008

Hornbeck Offshore Services HOS emerged from a three-month cup base as it reached a new high in early November. The stock then pulled back gently to start the left side of a new basing pattern.
It cleared the buy point 18om a double-bottom base in late February, but turned south yet again under market pressure.
Hornbeck has since found support at its 40-week average and made its way back up to just 7% off its high.
The Louisiana-based provider of offshore supply vessels to the oil and gas industry stepped up profit growth the past two quarters from 11% to 27% and 67%. Analysts expect a slowdown to 39% in Q1.
Sales growth also accelerated the past two quarters, rising from 6% to 22% and 55%. Wall Street forecasts call for 52% growth in Q1.
Hornbeck primarily serves the northeastern and , and some international markets. It also provides petroleum transportation services.
It keeps expanding by acquiring or building new vessels. So far this year Hornbeck has bought a multipurpose supply vessel, and has contracted for the construction of two new vessels.

Source:  Newstex

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People in the News

Nordic Shipholding Profits below Market Expectations

For the 3 months ended 31 March 2016, Nordic Shipholding A/S generated a profit after tax of USD 1.5 million, compared to USD 2.7 million in the same quarter last year.

Mount Whitney Makes History

USS Mount Whitney (LCC 20), the U.S. 6th Fleet flagship, made history today as the first amphibious command ship to have an MV-22B Osprey land on its flight deck, May 23, 2016.

Damen Unveils Multi-role Utility Vessel

Work is due to start shortly on the first of a new class of Damen utility vessel UV2410.   This multi-role platform is the result of extensive consultation with

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0655 sec (15 req/sec)