SBM Offshore (SBFFF) Expected to Announce Earnings on Thursday

SBM Offshore (OTCMKTS:SBFFF) is expected to announce its results before the market opens on Thursday, August 6th. Analysts expect the company to post earnings of $3.23 per share and revenue of $4.3940 billion for the quarter.

SBM Offshore Price Performance

Shares of OTCMKTS SBFFF opened at $38.00 on Wednesday. SBM Offshore has a 1 year low of $25.87 and a 1 year high of $44.10. The firm’s 50-day moving average is $38.17 and its 200-day moving average is $37.14.

Analysts Set New Price Targets

SBFFF has been the topic of several analyst reports. Royal Bank Of Canada began coverage on shares of SBM Offshore in a report on Tuesday, July 28th. They issued an “outperform” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of SBM Offshore in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock 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.