SEACOR Marine (NYSE:SMHI) Issues Earnings Results

SEACOR Marine (NYSE:SMHI) announced its quarterly earnings results on Wednesday. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $1.36, FiscalAI reports. SEACOR Marine had a negative return on equity of 12.38% and a negative net margin of 13.00%.The company had revenue of $54.63 million for the quarter, compared to the consensus estimate of $45.60 million.

SEACOR Marine Stock Down 2.8%

SMHI traded down $0.22 during trading on Wednesday, hitting $7.75. 179,664 shares of the company’s stock traded hands, compared to its average volume of 118,022. The company’s 50 day simple moving average is $7.56 and its two-hundred day simple moving average is $7.33. The company has a current ratio of 2.36, a quick ratio of 2.32 and a debt-to-equity ratio of 1.20. SEACOR Marine has a 12-month low of $4.70 and a 12-month high of $8.51. The stock has a market capitalization of $209.69 million, a price-to-earnings ratio of -7.11 and a beta of 1.10.

Insider Buying and Selling at SEACOR Marine

In related news, VP Andrew H. Everett II sold 10,565 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $8.04, for a total transaction of $84,942.60. Following the transaction, the vice president owned 273,595 shares in the company, valued at $2,199,703.80. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gregory Scott Rossmiller sold 9,670 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.27, for a total value of $70,300.90. Following the transaction, the chief accounting officer directly owned 285,071 shares in the company, valued at $2,072,466.17. The trade was a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 83,162 shares of company stock worth $647,224. Company insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On SEACOR Marine

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of SEACOR Marine by 75.1% in the third quarter. BNP Paribas Financial Markets now owns 3,962 shares of the company’s stock valued at $26,000 after acquiring an additional 1,699 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of SEACOR Marine by 289.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,962 shares of the company’s stock worth $51,000 after purchasing an additional 7,406 shares in the last quarter. Raymond James Financial Inc. raised its stake in SEACOR Marine by 197.4% during the 3rd quarter. Raymond James Financial Inc. now owns 15,065 shares of the company’s stock valued at $98,000 after purchasing an additional 10,000 shares during the period. Wells Fargo & Company MN lifted its holdings in SEACOR Marine by 55.4% in the 4th quarter. Wells Fargo & Company MN now owns 24,486 shares of the company’s stock worth $147,000 after purchasing an additional 8,733 shares in the last quarter. Finally, Barclays PLC lifted its holdings in SEACOR Marine by 9.5% in the 4th quarter. Barclays PLC now owns 58,185 shares of the company’s stock worth $350,000 after purchasing an additional 5,060 shares in the last quarter. Institutional investors own 59.05% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of SEACOR Marine in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

SEACOR Marine Company Profile

SEACOR Marine (NYSE:SMHI) is a U.S.-based provider of offshore marine transportation and support services, offering a fleet of platform supply vessels (PSVs), crew transfer vessels, and specialty craft designed for the energy sector. The company serves clients engaged in offshore oil and gas exploration and production, as well as emerging offshore wind and renewable energy projects. Its services include cargo and personnel transfer, subsea support, emergency response, and project logistics.

Formed through the combination of SEACOR Holdings’ offshore marine division and acquired assets from Hornbeck Offshore Services, SEACOR Marine brings together a broad range of technical expertise and vessel capabilities.