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Zacks Investment Ideas feature highlights: Helix Energy Solutions
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For Immediate Release
Chicago, IL – August 21, 2023 – Today, Zacks Investment Ideas feature highlights Helix Energy Solutions (HLX - Free Report) .
Powerful 'Buy' Signal Has This Energy Stock Near 52-Week Highs
The energy sector has been on fire lately, as energy stocks rose five weeks in a row heading into the third trading week of August. This week's price action threatens to halt the streak, but we can't deny the underlying sector rotation. Market participants have shifted away from technology stocks and into sectors that recently broke out such as energy and industrials.
When it comes to investing, we want to be in the strongest stocks at any given point in time. Limiting purchases to stocks that are in a price uptrend can make all the difference between winning and losing portfolios, particularly in years such as this one. It often pays to allow price to help us dictate buying and selling decisions, rather than trying to predict which direction a stock will take in the future.
The stock market is dynamic, whereby leading stocks and industry groups are constantly changing. There are plenty of reasons why energy shouldn't be rallying right now, including a decline in overall energy profits relative to last year. But our job isn't to outsmart the market, it's to follow the best opportunities. The market is the horse and our aim is to simply ride the caboose during bullish trends.
A select number of energy companies have been able to buck the negative profit theme. The recent rise in energy stocks has also coincided with oil's ascent back above $80/barrel. One energy company in particular is projecting double-digit sales growth along with triple-digit earnings growth, and its stock is responding in kind.
Helix Energy's Undeniable Force
Helix Energy Solutions is an international offshore energy services company that specializes in well intervention and robotics operations. The company seeks to align the interests of producers and contractors by investing in mature offshore oil and gas properties, hub production facilities, and proven undeveloped reserve areas where it can add value. Helix Energy provides a wide array of services such as trenching and burial of pipelines; reclamation and remediation; offshore oilfield decommissioning; well plug and abandonment; and oil and natural gas processing facilities.
Helix Energy Solutions has met or exceeded earnings estimates in three of the past four quarters. The energy company most recently delivered second-quarter earnings results back in July that beat on both the top and bottom lines. Quarterly earnings of $0.11/share were well ahead of the $0.04 consensus estimate by 175%, while revenues of $308.82 million also surprised by 12.4%.
Analysts have raised their full-year EPS outlook by 4.35% in the past 60 days. The 2023 Zacks Consensus EPS Estimate now stands at $0.48/share, a staggering 200% growth rate relative to last year. Revenues are projected to climb 42.1% to $1.24 billion.
HLX stock, a Zacks Rank #1 (Strong Buy), has responded well to the potential growth story, with shares climbing more than 130% in the past year.
Backed By a Leading Industry
HLX is part of the Zacks Oil and Gas – Field Services industry, which currently ranks in the top 36% out of approximately 250 industry groups. Because this group is ranked in the top half of all Zacks Ranked Industries, we expect it to outperform the market over the next 3 to 6 months, just has it has over the past 3 months.
Quantitative research studies suggest that approximately half of a stock's price appreciation is due to its industry grouping. Focusing on stocks within the top-performing industries provides a constant tailwind to our investing results. Including this step in our selection process also allows us to filter our investment list and select stocks with the best profit potential.
Bottom Line
The recent strength in HLX shares looks poised to continue, with earnings estimate revisions on the rise. Sector rotation has buoyed energy stocks in recent weeks, and this company has been able to buck the negative profit trend. The backing of a leading industry group has helped propel HLX shares near 52-week highs.
Make sure you're taking advantage of all that Zacks has to offer so that you're able to identify winning stocks like HLX more easily.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: Helix Energy Solutions
For Immediate Release
Chicago, IL – August 21, 2023 – Today, Zacks Investment Ideas feature highlights Helix Energy Solutions (HLX - Free Report) .
Powerful 'Buy' Signal Has This Energy Stock Near 52-Week Highs
The energy sector has been on fire lately, as energy stocks rose five weeks in a row heading into the third trading week of August. This week's price action threatens to halt the streak, but we can't deny the underlying sector rotation. Market participants have shifted away from technology stocks and into sectors that recently broke out such as energy and industrials.
When it comes to investing, we want to be in the strongest stocks at any given point in time. Limiting purchases to stocks that are in a price uptrend can make all the difference between winning and losing portfolios, particularly in years such as this one. It often pays to allow price to help us dictate buying and selling decisions, rather than trying to predict which direction a stock will take in the future.
The stock market is dynamic, whereby leading stocks and industry groups are constantly changing. There are plenty of reasons why energy shouldn't be rallying right now, including a decline in overall energy profits relative to last year. But our job isn't to outsmart the market, it's to follow the best opportunities. The market is the horse and our aim is to simply ride the caboose during bullish trends.
A select number of energy companies have been able to buck the negative profit theme. The recent rise in energy stocks has also coincided with oil's ascent back above $80/barrel. One energy company in particular is projecting double-digit sales growth along with triple-digit earnings growth, and its stock is responding in kind.
Helix Energy's Undeniable Force
Helix Energy Solutions is an international offshore energy services company that specializes in well intervention and robotics operations. The company seeks to align the interests of producers and contractors by investing in mature offshore oil and gas properties, hub production facilities, and proven undeveloped reserve areas where it can add value. Helix Energy provides a wide array of services such as trenching and burial of pipelines; reclamation and remediation; offshore oilfield decommissioning; well plug and abandonment; and oil and natural gas processing facilities.
Helix Energy Solutions has met or exceeded earnings estimates in three of the past four quarters. The energy company most recently delivered second-quarter earnings results back in July that beat on both the top and bottom lines. Quarterly earnings of $0.11/share were well ahead of the $0.04 consensus estimate by 175%, while revenues of $308.82 million also surprised by 12.4%.
Analysts have raised their full-year EPS outlook by 4.35% in the past 60 days. The 2023 Zacks Consensus EPS Estimate now stands at $0.48/share, a staggering 200% growth rate relative to last year. Revenues are projected to climb 42.1% to $1.24 billion.
HLX stock, a Zacks Rank #1 (Strong Buy), has responded well to the potential growth story, with shares climbing more than 130% in the past year.
Backed By a Leading Industry
HLX is part of the Zacks Oil and Gas – Field Services industry, which currently ranks in the top 36% out of approximately 250 industry groups. Because this group is ranked in the top half of all Zacks Ranked Industries, we expect it to outperform the market over the next 3 to 6 months, just has it has over the past 3 months.
Quantitative research studies suggest that approximately half of a stock's price appreciation is due to its industry grouping. Focusing on stocks within the top-performing industries provides a constant tailwind to our investing results. Including this step in our selection process also allows us to filter our investment list and select stocks with the best profit potential.
Bottom Line
The recent strength in HLX shares looks poised to continue, with earnings estimate revisions on the rise. Sector rotation has buoyed energy stocks in recent weeks, and this company has been able to buck the negative profit trend. The backing of a leading industry group has helped propel HLX shares near 52-week highs.
Make sure you're taking advantage of all that Zacks has to offer so that you're able to identify winning stocks like HLX more easily.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.