Helix Energy Solutions Group Inc [NYSE: HLX] loss -11.12% on the last trading session, reaching $9.11 price per share at the time. The company report on February 26, 2024 at 6:00 PM that Helix Reports Fourth Quarter and Full Year 2023 Results.
Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) reported a net loss of $28.3 million, or $(0.19) per diluted share, for the fourth quarter 2023 compared to net income of $15.6 million, or $0.10 per diluted share, for the third quarter 2023 and net income of $2.7 million, or $0.02 per diluted share, for the fourth quarter 2022. Net loss in the fourth quarter 2023 includes a net pre-tax loss of approximately $37.3 million, or $(0.25) per diluted share, related to the repurchase of $159.8 million principal amount of our Convertible Senior Notes due 2026 (“2026 Notes”). Helix reported adjusted EBITDA1 of $70.6 million for the fourth quarter 2023 compared to $96.4 million for the third quarter 2023 and $49.2 million for the fourth quarter 2022.
For the full year 2023, Helix reported a net loss of $10.8 million, or $(0.07) per diluted share, compared to a net loss of $87.8 million, or $(0.58) per diluted share, for the full year 2022. Net loss in 2023 includes pre-tax losses of approximately $37.3 million, or $(0.25) per diluted share, related to the repurchase of $159.8 million principal amount of our 2026 Notes and $42.2 million, or $(0.28) per diluted share, related to the change in the value of the Alliance earnout during the year. Adjusted EBITDA for the full year 2023 was $273.4 million compared to $121.0 million for the full year 2022. The table below summarizes our results of operations:.
If compared to the average trading volume of 2.26M shares, HLX reached a trading volume of 6435384 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Helix Energy Solutions Group Inc [HLX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HLX shares is $15.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HLX stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for Helix Energy Solutions Group Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 26, 2022. While these analysts kept the previous recommendation, Evercore ISI raised their target price from $6 to $8. The new note on the price target was released on July 27, 2022, representing the official price target for Helix Energy Solutions Group Inc stock. Previously, the target price had yet another raise from $4.50 to $5.60, while Piper Sandler kept a Overweight rating on HLX stock. On July 28, 2021, analysts decreased their price target for HLX shares from 5.30 to 4.50.
The Average True Range (ATR) for Helix Energy Solutions Group Inc is set at 0.38, with the Price to Sales ratio for HLX stock in the period of the last 12 months amounting to 1.06. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 2.20. Price to Free Cash Flow for HLX in the course of the last twelve months was 21.77 with Quick ratio for the last quarter at 1.35.
Trading performance analysis for HLX stock
Helix Energy Solutions Group Inc [HLX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.56. With this latest performance, HLX shares dropped by -9.80% in over the last four-week period, additionally sinking by -3.09% over the last 6 months – not to mention a rise of 10.96% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HLX stock in for the last two-week period is set at 39.95, with the RSI for the last a single of trading hit 35.29, and the three-weeks RSI is set at 42.57 for Helix Energy Solutions Group Inc [HLX]. The present Moving Average for the last 50 days of trading for this stock 9.80, while it was recorded at 9.91 for the last single week of trading, and 9.24 for the last 200 days.
Helix Energy Solutions Group Inc [HLX]: A deeper dive into fundamental analysis
Helix Energy Solutions Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.35 and a Current Ratio set at 1.56.
Helix Energy Solutions Group Inc [HLX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Helix Energy Solutions Group Inc posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 25.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HLX.
An analysis of Institutional ownership at Helix Energy Solutions Group Inc [HLX]
The top three institutional holders of HLX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HLX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HLX stock with ownership which is approximately 5.8325%.
