Global Hunter Securities Reiterates a 'Neutral' on Hercules Offshore (HERO); 4Q beats on OPEX; Increasing PT
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Price: $27.42 +0.40%
Rating Summary:
3 Buy, 8 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 8 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Global Hunter Securities reiterates a 'Neutral' on Hercules Offshore (NASDAQ: HERO), PT increased from $3.70 to $5.30.
Global analyst says, "HERO put up a solid 4Q, reporting an EPS of $(0.03) compared to our expectation/consensus of $(0.12)/$(0.11). The better than expected performance was largely driven by reduced drilling OPEX, which is the basis for improvement in our estimates going forward. GOM operations seem to be improving while the international market should sustain utilization longer term. The merger of Seahawk Drilling (HAWK) remains on track to close in 2Q, as well. We are adjusting our price target to $5.30, but given the stock's performance in recent weeks, we believe shares remain fairly valued and we reiterate our rating."
For more ratings news on Hercules Offshore click here and for the rating history of Hercules Offshore click here.
Shares of Hercules Offshore closed at $5.86 yesterday.
Global analyst says, "HERO put up a solid 4Q, reporting an EPS of $(0.03) compared to our expectation/consensus of $(0.12)/$(0.11). The better than expected performance was largely driven by reduced drilling OPEX, which is the basis for improvement in our estimates going forward. GOM operations seem to be improving while the international market should sustain utilization longer term. The merger of Seahawk Drilling (HAWK) remains on track to close in 2Q, as well. We are adjusting our price target to $5.30, but given the stock's performance in recent weeks, we believe shares remain fairly valued and we reiterate our rating."
For more ratings news on Hercules Offshore click here and for the rating history of Hercules Offshore click here.
Shares of Hercules Offshore closed at $5.86 yesterday.
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