Helix Energy Solutions Group, Inc. (HLX) Expected to Post Quarterly Sales of $162.45 Million

Wall Street analysts forecast that Helix Energy Solutions Group, Inc. (NYSE:HLX) will post sales of $162.45 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Helix Energy Solutions Group’s earnings, with the lowest sales estimate coming in at $159.10 million and the highest estimate coming in at $165.80 million. Helix Energy Solutions Group posted sales of $161.25 million during the same quarter last year, which suggests a positive year over year growth rate of 0.7%. The firm is scheduled to report its next earnings report before the market opens on Monday, October 23rd.

On average, analysts expect that Helix Energy Solutions Group will report full-year sales of $162.45 million for the current year, with estimates ranging from $584.40 million to $592.00 million. For the next financial year, analysts anticipate that the firm will post sales of $731.67 million per share, with estimates ranging from $712.60 million to $748.00 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Helix Energy Solutions Group.

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings results on Sunday, July 23rd. The oil and gas company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). The firm had revenue of $150.30 million for the quarter, compared to the consensus estimate of $141.03 million. Helix Energy Solutions Group had a negative net margin of 12.09% and a negative return on equity of 1.21%. The business’s revenue was up 40.2% compared to the same quarter last year. During the same period last year, the company posted ($0.10) EPS.

HLX has been the topic of several analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $8.00 target price (down previously from $15.00) on shares of Helix Energy Solutions Group in a research note on Wednesday, June 21st. Cowen and Company reiterated a “buy” rating and issued a $10.00 target price on shares of Helix Energy Solutions Group in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of Helix Energy Solutions Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Finally, Bank of America Corporation initiated coverage on shares of Helix Energy Solutions Group in a research note on Tuesday, September 5th. They issued a “neutral” rating and a $7.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Helix Energy Solutions Group has a consensus rating of “Hold” and a consensus price target of $9.33.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new position in shares of Helix Energy Solutions Group during the second quarter valued at approximately $169,000. TVR Capital Management LP purchased a new position in shares of Helix Energy Solutions Group during the second quarter valued at approximately $1,127,000. The Manufacturers Life Insurance Company raised its holdings in shares of Helix Energy Solutions Group by 21.6% during the second quarter. The Manufacturers Life Insurance Company now owns 111,324 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 19,746 shares during the last quarter. Green Square Capital LLC raised its holdings in shares of Helix Energy Solutions Group by 1.7% during the second quarter. Green Square Capital LLC now owns 21,392 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 359 shares during the last quarter. Finally, BlueCrest Capital Management Ltd raised its holdings in shares of Helix Energy Solutions Group by 120.2% during the second quarter. BlueCrest Capital Management Ltd now owns 674,578 shares of the oil and gas company’s stock valued at $3,805,000 after purchasing an additional 368,282 shares during the last quarter. 86.85% of the stock is owned by hedge funds and other institutional investors.

Helix Energy Solutions Group (HLX) traded down 0.13% during midday trading on Thursday, hitting $7.89. 1,573,172 shares of the company were exchanged. The firm’s market capitalization is $1.17 billion. Helix Energy Solutions Group has a 1-year low of $4.82 and a 1-year high of $11.87. The stock has a 50 day moving average of $7.21 and a 200 day moving average of $6.30.

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Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc is an international offshore energy services company. The Company provides services to the offshore energy industry, with a focus on well intervention and robotics operations. The Company operates in three segments: Well Intervention, Robotics and Production Facilities.

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Earnings History and Estimates for Helix Energy Solutions Group (NYSE:HLX)

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