Morgan Stanley Maintains GulfMark Offshore to Underweight with Price Target $4.00

Brokerage firm Morgan Stanley Maintains its rating on GulfMark Offshore(NYSE:GLF). In a research note issued to the investors, the brokerage major Lowers the price-target to $4.00 per share. The shares have been rated Underweight. The rating by Morgan Stanley was issued on Jul 28, 2016.

GulfMark Offshore (GLF) shares turned negative on Thursdays trading session with the shares closing down -0.02 points or -0.70% at a volume of 4,16,918. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.95. The peak price level was also seen at $2.95 while the days lowest was $2.73. Finally the shares closed at $2.84. The 52-week high of the shares is $9.77 while the 52-week low is $2.5. According to the latest information available, the market cap of the company is $76 M.

GulfMark Offshore(GLF) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $30.49M. Analysts had an estimated revenue of $31.91M. Earnings per share were $-0.57. Analysts had estimated an EPS of $-0.57.

Several Insider Transactions has been reported to the SEC. On Dec 14, 2015, Sheldon S Gordon (director) sold 9,614 shares at $5.01 per share price.Also, On Nov 16, 2015, Quintin Kneen (CEO) purchased 40,000 shares at $4.94 per share price.On Apr 29, 2015, Steven W Kohlhagen (director) purchased 3,450 shares at $13.95 per share price, according to the Form-4 filing with the securities and exchange commission.

GulfMark Offshore Inc. provides offshore marine support and transportation services. The Company offers these services to companies engaged in the offshore exploration and production of oil and natural gas. The Company operates in three segments: the North Sea (N. Sea) which defines the North Sea market as offshore Norway Great Britain the Netherlands Denmark Germany Ireland the Faeroes Islands Greenland and the Barents Sea; Southeast Asia (SEA) which is defined as offshore Asia bounded on the west by the Indian subcontinent and on the north by China then south to Australia and east to the Pacific Islands and the Americas which defines the Americas market as offshore North Central and South America specifically including the United States Mexico Trinidad and Brazil. It operates a fleet of 75 offshore supply vessels (OSVs) in the regions which include 32 vessels in the North Sea 13 vessels offshore Southeast Asia and 30 vessels offshore the Americas.

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