SBM Offshore (SBFFF) Projected to Post Earnings on Thursday

SBM Offshore (OTCMKTS:SBFFF) will likely be announcing its resultson Thursday, August 6th. Analysts expect SBM Offshore to announce 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. The stock’s fifty day simple moving average is $38.33 and its 200 day simple moving average is $36.82. SBM Offshore has a 52-week low of $25.87 and a 52-week high of $44.10.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SBFFF. Morgan Stanley reaffirmed an “overweight” rating on shares of SBM Offshore in a report on Monday, May 11th. Royal Bank Of Canada started coverage on SBM Offshore in a report on Tuesday. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

About SBM Offshore

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.