by Zacks Equity Research Published on March 08, 2017
HOS
Hornbeck Offshore Services, Inc. (HOS - Free Report) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for HOS broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.
This has already started to take place, as the stock has moved lower by 43.7% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for HOS stock.
If that wasnt enough, Hornbeck Offshore Services, Inc. isnt looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.
Consider that in the last 30 days, 4 estimates have been reduced, while none has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.
That is why we currently have a Zacks Rank #4 (Sell) on this stock and are looking for it to underperform in the weeks ahead. So either avoid this stock or consider jumping ship until the estimates and technical factors turn around for HOS. You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here.
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Moving Average Crossover Alert: Hornbeck Offshore Services (HOS) March 08, 2017 - Zacks.com
- Offshore Company Registration and Bank Accounts for ... [Last Updated On: June 12th, 2016] [Originally Added On: June 12th, 2016]
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- Offshore drilling - Wikipedia, the free encyclopedia [Last Updated On: July 3rd, 2016] [Originally Added On: July 3rd, 2016]
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- Offshoring - Wikipedia, the free encyclopedia [Last Updated On: August 23rd, 2016] [Originally Added On: August 23rd, 2016]
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- Offshore drilling - Wikipedia [Last Updated On: January 8th, 2017] [Originally Added On: January 8th, 2017]
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- First offshore installation work completed on Johan Sverdrup - Oilfield Technology [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
- Hornbeck Offshore Services (HOS) Given Average Rating of Hold by Brokerages - Sports Perspectives [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
- Offshore Work Begins on Relocating US Base on Okinawa - ABC News [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
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- Japan begins offshore construction work on moving US base in Okinawa - RT [Last Updated On: February 6th, 2017] [Originally Added On: February 6th, 2017]
- Further decline in North Sea offshore supply work - BBC News [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Offshore Drillers See Gains, But Recovery Afar - E&P [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
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- Offshore Drillers Are Still Seeking Recovery Enjoyed by Shale - Bloomberg [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
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- Dems: Don't repeal offshore tax rules | TheHill - The Hill [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
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- ORC and IRC unite offshore racing fleets for 2018 World ... - International Sailing Federation [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Shares of Seadrill Went in the Exact Opposite Direction of Other Offshore Drillers in January - Motley Fool [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Coalition urged to charge 10% royalty on offshore oil and gas projects - The Guardian [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- After selling off all oilsands assets, Statoil looks to Newfoundland offshore - Calgary Herald [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Israel Puts Off License Award In First Offshore Oil, Gas Bid Round - OilPrice.com [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Cost Impact of Immigration and Visa Reform to US Customers Using Offshore Services - Forbes [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- These Offshore Drilling Stocks Are Up Big as Earnings Season Starts - Fox Business [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Oil and Gas Stock Roundup: The Outlook for Offshore Drilling Continues to Dim - Fox Business [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- Offshore crew eyes weather gains - reNews [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]