Goldman Sachs Maintains a 'Neutral' on Hercules Offshore (HERO); Adjusting Estimates on Fleet Status Report
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Price: $6.87 -1.43%
Rating Summary:
10 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
10 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade HERO Now!
Goldman Sachs maintains a 'Neutral' on Hercules Offshore (NASDAQ: HERO) price target of $5.25.
Analyst, Waqar Syed, said, "HERO’s fleet status report showed continued rate progression on the GOM shelf, with new leading edge rates for 200-MC and 250-MC jack-ups. The Hercules 214 (200-MC jack-up) reported a new leading edge rate of $80K/day, versus previous high of $75K/day for this class of rigs. Also, Hercules 263 (250-MC jack-up) reported a new leading edge rate of $90k/day, versus previous high rate in the high-$80K/day range. These are important data points for the company, as they indicate strong operator activity in the shallow GOM highlighting HERO’s ability to push rates."
FY12 EPS estimate lowered from (0.49) to (0.61), FY13 raised from $0.30 to $0.35 and FY14 from $0.31 to $0.33.
For an analyst ratings summary and ratings history on Hercules Offshore click here. For more ratings news on Hercules Offshore click here.
Shares of Hercules Offshore closed at $4.13 yesterday, with a 52 week range of $2.25-$5.57.
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Analyst, Waqar Syed, said, "HERO’s fleet status report showed continued rate progression on the GOM shelf, with new leading edge rates for 200-MC and 250-MC jack-ups. The Hercules 214 (200-MC jack-up) reported a new leading edge rate of $80K/day, versus previous high of $75K/day for this class of rigs. Also, Hercules 263 (250-MC jack-up) reported a new leading edge rate of $90k/day, versus previous high rate in the high-$80K/day range. These are important data points for the company, as they indicate strong operator activity in the shallow GOM highlighting HERO’s ability to push rates."
FY12 EPS estimate lowered from (0.49) to (0.61), FY13 raised from $0.30 to $0.35 and FY14 from $0.31 to $0.33.
For an analyst ratings summary and ratings history on Hercules Offshore click here. For more ratings news on Hercules Offshore click here.
Shares of Hercules Offshore closed at $4.13 yesterday, with a 52 week range of $2.25-$5.57.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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