SBM Offshore (SBFFF) to Release Quarterly Earnings on Thursday

SBM Offshore (OTCMKTS:SBFFF) is anticipated to announce its results before the market opens on Thursday, February 26th. Analysts expect the company to announce earnings of $1.85 per share and revenue of $1.43 billion for the quarter.

SBM Offshore Stock Performance

SBFFF opened at $34.50 on Tuesday. SBM Offshore has a 52-week low of $20.55 and a 52-week high of $34.49. The firm’s 50-day moving average price is $30.65 and its 200-day moving average price is $28.41.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reissued an “overweight” rating on shares of SBM Offshore in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

SBM Offshore Company Profile

SBM Offshore is a global developer and operator of floating production solutions for the offshore energy industry. The company specialises in the design, engineering, construction, installation and operation of floating production storage and offloading (FPSO) vessels, turret mooring systems and single-point mooring (SPM) buoys. These assets enable oil and gas producers to exploit deepwater and remote hydrocarbon reserves by converting production fluids into marketable oil and gas, while storing and offloading cargo to shuttle tankers.

Headquartered in Schiedam, the Netherlands, SBM Offshore traces its origins back to the 1960s when the first turret-moored production vessel concept was demonstrated.