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News Breaks
March 13, 2014
12:03 EDTHELICHC Group falls after issuing first earnings report since IPO
Shares of commercial helicopter operator CHC Group are tumbling after the company gave its first earnings report since its initial public offering in January. WHAT'S NEW: Last night, CHC Group reported third quarter adjusted losses per share of 32c, which was better than analysts' consensus expectation of 40c per share in losses. The company reported third quarter revenue of $453.9M, which was below analysts' consensus of about $473M. CHC Group anticipates FY14 revenue to be flat to slightly up from FY13. Analyst had forecast FY14 revenue of $2.04B for the company prior to its report. CHC sees its FY14 adjusted EBITDAR, or earnings before interest, taxes, depreciation, amortization and aircraft rental costs, excluding special items, to be flat to slightly down, reflecting the negative effect of the suspension and subsequent return to service of EC225 aircraft. WHAT'S NOTABLE: On January 17, CHC Group priced its initial public offering of 31M shares at $10 per share. The shares opened for trading that day at $9.30. ANALYST REACTION: In a note to investors following CHC's report, Wells Fargo lowered its estimates for the company's FY14 FY15 earnings and reduced its price target range on the stock to $11-$13 from $12-$14. However, Wells Fargo said it believes that helicopter demand will withstand headwinds from drilling rig utilization and that concern over the supply/demand balance in the helicopter market is currently being overestimated by investors. The firm maintains its Outperform rating on CHC Group. PRICE ACTION: Near noon, shares of CHC Group were down 38c, or 4.27%, to $8.52.
News For HELI From The Last 14 Days
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October 17, 2014
10:00 EDTHELIOn The Fly: Analyst Downgrade Summary
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07:02 EDTHELICHC Group downgraded to Market Perform from Outperform at Cowen
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October 15, 2014
10:02 EDTHELIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Atwood Oceanics (ATW) initiated with a Buy at ISI Group... Baker Hughes (BHI) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Buy at ISI Group... C&J Energy (CJES) initiated with a Buy at ISI Group... CARBO Ceramics (CRR) initiated with a Hold at ISI Group... CHC Group (HELI) initiated with a Buy at ISI Group... Cameron (CAM) initiated with a Buy at ISI Group... Chart Industries (GTLS) initiated with a Buy at ISI Group... Core Laboratories (CLB) initiated with a Buy at ISI Group... Diamond Offshore (DO) initiated with a Sell at ISI Group... Dresser-Rand (DRC) initiated with a Sell at ISI Group... Dril-Quip (DRQ) initiated with a Buy at ISI Group... Ensco (ESV) initiated with a Buy at ISI Group... FIS (FIS) initiated with a Market Perform at BMO Capital... FMC Technologies (FTI) initiated with a Buy at ISI Group... GoPro (GPRO) initiated with a Sector Perform at Pacific Crest... Halliburton (HAL) initiated with a Buy at ISI Group... Helmerich & Payne (HP) initiated with a Neutral at Citigroup... Hercules Offshore (HERO) initiated with a Sell at ISI Group... Key Energy (KEG) initiated with a Buy at ISI Group... Maxwell (MXWL) reinstated with a Buy at Canaccord... Nabors Industries (NBR) initiated with a Buy at ISI Group... Noble Corp. (NE) initiated with a Buy at ISI Group... Oceaneering (OII) initiated with a Buy at ISI Group... Paragon Offshore (PGN) initiated with a Buy at ISI Group... Parker Drilling (PKD) initiated with a Buy at ISI Group... Patterson-UTI (PTEN) initiated with a Buy at Citigroup... Peabody (BTU) initiated with an Underperform at Imperial Capital... RPC, Inc. (RES) initiated with a Buy at Citigroup... Receptos (RCPT) initiated with a Buy at Goldman... Rowan Companies (RDC) initiated with a Buy at ISI Group... Schlumberger (SLB) initiated with a Buy at ISI Group... Sensata (ST) resumed with a Buy at Citigroup... Tidewater (TDW) initiated with a Hold at ISI Group... Transocean (RIG) initiated with a Sell at ISI Group... Weatherford (WFT) initiated with a Buy at ISI Group.
07:10 EDTHELICHC Group initiated with a Buy at ISI Group
Target $5.80.

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