SBM Offshore (SBFFF) Projected to Release Earnings on Thursday

SBM Offshore (OTCMKTS:SBFFF) is projected to issue its resultson 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 Stock Performance

Shares of OTCMKTS SBFFF opened at $38.00 on Thursday. SBM Offshore has a one year low of $25.87 and a one year high of $44.10. The business has a 50-day moving average price of $38.33 and a two-hundred day moving average price of $36.82.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SBFFF. Morgan Stanley reiterated an “overweight” rating on shares of SBM Offshore in a report on Monday, May 11th. Royal Bank Of Canada assumed coverage on shares of SBM Offshore in a research report on Tuesday. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average 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.