FBR Capital Maintains an 'Outperform' on Hercules Offshore (HERO); Reported Contracts Consistent with Our Above Street Estimates
Tweet
Share
E-mailGet Alerts HERO Hot Sheet
Price: $19.37 -1.27%
Rating Summary:
3 Buy, 8 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
3 Buy, 8 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
FBR Capital maintains an 'Outperform' on Hercules Offshore (NASDAQ: HERO).
FBR analyst says, "Hercules Offshore reportedly has secured a series of new contracts according to ODS-Petrodata last Friday, June 10th. This reaffirms our expectation that the jackup market in the Gulf of Mexico should tighten meaningfully over the coming months. In the aggregate, these contracts are consistent with our high-on-the-street 2Q11 EPS estimate of ($0.09) and our above-consensus 3Q11 EPS estimate of ($0.05)."
"...These fixtures are incrementally positive not only where rising rates are evidenced, but also because contract extending through the summer months (hurricane season) are viewed as a bullish industry signal. In other words, E&P companies want to ensure that they have access to equipment even in spite of the risk that there will be interruptions of drilling activity during the contract."
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 $5.43 yesterday.
FBR analyst says, "Hercules Offshore reportedly has secured a series of new contracts according to ODS-Petrodata last Friday, June 10th. This reaffirms our expectation that the jackup market in the Gulf of Mexico should tighten meaningfully over the coming months. In the aggregate, these contracts are consistent with our high-on-the-street 2Q11 EPS estimate of ($0.09) and our above-consensus 3Q11 EPS estimate of ($0.05)."
"...These fixtures are incrementally positive not only where rising rates are evidenced, but also because contract extending through the summer months (hurricane season) are viewed as a bullish industry signal. In other words, E&P companies want to ensure that they have access to equipment even in spite of the risk that there will be interruptions of drilling activity during the contract."
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 $5.43 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban
- Amazon.com (AMZN) PT Raised to $215 at UBS
- Capitol Federal Financial (CFFN) PT Lowered to $6 at Keefe, Bruyette & Woods
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
