Helix Energy stock hits 52-week low at $8.64 amid market challenges By Investing.com

In a difficult market environment, Helix Energy Solutions Group Inc . (NYSE:) shares fell to a 52-week low of $8.64 InvestingPro: According to the data, the company maintains strong liquidity with a current ratio of 2.29, while analysts have set price targets of $12.50 to $15.00, suggesting potential upside broad trends and investor sentiment. This latest price level is a critical moment for the company as it navigates a volatile energy market and aims to recover. its positions in the coming quarters. InvestingPro: analysis shows that the stock is currently trading below its fair value with 8 additional exclusive ProTips available to subscribers that provide deeper insights into the company’s financial health and growth prospects.

In other recent news, Helix Energy Solutions Group, Inc. reported its third quarter financial results, showing resilience amid operational challenges.The company reported Q3 revenues of $342 million, gross profit of $66 million and net income of Despite the weather-related setbacks and delayed earnings, Helix managed to secure significant new contracts and subsequently raised its free cash flow guidance for the year.

Recent developments include Helix revising its 2024 revenue guidance to between $1.3 billion and $1.365 billion and adjusted EBITDA to between $280 million and $310 million.The company’s free cash flow guidance for 2024 was also increased to $120 million to $150 million.Helix’s liquidity remains stable at $324 million in cash and cash equivalents total liquidity: $399 million.

In terms of future expectations, the company expects its free cash flow to exceed $200 million next year, while capital expenditures are forecast to remain at $70 million to $80 million annually.Helix’s new long-term contracts with Petrobras and Shell, analysts said ( LON: ) have built up a larger accumulation of $800 million, indicating potential upside.However, investors should be aware that seasonal weather in the Northern Hemisphere can affected the results of the 4th quarter.

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