SEACOR Marine Stock Rises 0.2% as Analysts Weigh In

SEACOR Marine Holdings Inc. (NYSE:SMHI) experienced a modest stock increase of 0.2% during trading on Wednesday. The share price peaked at $7.02 before closing at $6.9450, up from the previous day’s close of $6.93. The midday trading volume reached approximately 98,052 shares, representing a 10% increase over the average daily volume of 89,291 shares.

Analysts Assess SEACOR Marine’s Performance

Analysts have been closely monitoring SEACOR Marine, with recent reports reflecting a range of opinions on the stock. On September 9, 2023, Clarkson Capital downgraded SEACOR Marine from a “buy” to a “neutral” rating, establishing a price target of $7.00. Conversely, on November 1, Wall Street Zen upgraded the stock from a “hold” to a “buy” rating. More recently, on October 31, Zacks Research elevated its rating from “hold” to “strong-buy.”

Currently, one analyst has assigned a strong buy rating, while another has rated it as hold, and a third has issued a sell rating. According to data from MarketBeat.com, SEACOR Marine holds a consensus rating of “hold” and a consensus target price of $7.00.

Quarterly Earnings and Financial Outlook

SEACOR Marine released its quarterly earnings data on October 29, 2023. The company reported earnings per share of $0.17, significantly exceeding analysts’ expectations, which had anticipated a loss of $0.59 per share. The business generated revenue of $59.19 million for the quarter, although this fell short of the forecasted $65.89 million. The company reported a negative net margin of 16.08% and a negative return on equity of 6.67%. Looking ahead, analysts predict that SEACOR Marine will post an earnings per share of -2.54 for the current year.

Insider trading has also been notable, with Director Julie Persily selling 7,000 shares on November 11, 2023, at an average price of $7.45. This sale totaled $52,150.00 and resulted in a 7.57% reduction of her holdings. Following the transaction, Persily retains 85,476 shares valued at approximately $636,796.20. Currently, corporate insiders own 16.40% of the company’s stock.

Institutional Investments and Market Position

Recent activity among institutional investors also reflects growing interest in SEACOR Marine. Nuveen LLC acquired a new position in the company valued at approximately $444,000 during the first quarter. Additionally, American Century Companies Inc. increased its stake by 7.7%, now holding 50,806 shares valued at $257,000. Wellington Management Group LLP expanded its position by 19.8% with an additional 7,739 shares, bringing its total to 46,780 shares valued at $237,000.

Moreover, MetLife Investment Management LLC grew its holdings by 43.1%, now owning 14,131 shares worth $72,000. First Manhattan CO. LLC also increased its holdings by 1.5%, totaling 356,465 shares valued at $1,804,000. Overall, institutional investors now own 59.05% of SEACOR Marine’s stock.

Founded to provide marine and support transportation services for offshore oil, natural gas, and windfarm facilities globally, SEACOR Marine operates a fleet of offshore support and specialty vessels. These vessels deliver cargo and personnel to offshore installations, support mooring operations, and assist in construction and maintenance tasks.

As SEACOR Marine continues to navigate a complex market landscape, its financial performance and the insights from analysts will likely influence investor sentiment in the coming months.