The New Orleans capital markets brokerage chopped its 2014 earnings-per-share (EPS) estimate to $3.40 from a previous bet of $4.25, according to a note to clients.
EPS should come in at $4.93 in 2015, down from Iberia’s previous estimate of $5.10, and Iberia’s 12-month price target on GulfMark’s New York-listed shares fell by $4 to $50.
Analyst Trey Stolz, who tracks oilfield services stocks for Iberia, said the cuts are a result of GulfMark’s own reductions in its revenue expectations.
“GulfMark