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Gulf Marine Services ( (GB:GMS) ) just unveiled an update.
Gulf Marine Services has agreed to acquire a new mid-class self-elevating support vessel, its first vessel purchase in a decade, expanding its fleet to 15 units and positioning the group to capture strong offshore energy demand while advancing its strategic goal of doubling 2024 adjusted EBITDA by 2030. The deal is partly funded through a USD 37.4 million short-term loan from a member of its existing lending syndicate, with the remainder paid from cash, leaving net leverage below 2.0x; the vessel has been earmarked for identified commercial opportunities, and management highlighted lender support and the company’s turnaround as paving the way for further acquisitions and plans to return 20–30% of adjusted net income to shareholders.
The most recent analyst rating on (GB:GMS) stock is a Buy with a £25.00 price target. To see the full list of analyst forecasts on Gulf Marine Services stock, see the GB:GMS Stock Forecast page.
Spark’s Take on GB:GMS Stock
According to Spark, TipRanks’ AI Analyst, GB:GMS is a Outperform.
The score is driven primarily by solid financial performance (strong revenue growth, high margins, and robust free cash flow) and a relatively low P/E valuation. Technicals are supportive due to a clear uptrend, but the score is tempered by overbought momentum signals (high RSI and Stoch) that increase the risk of a short-term reversal.
To see Spark’s full report on GB:GMS stock, click here.
More about Gulf Marine Services
Gulf Marine Services, listed on the London Stock Exchange and founded in Abu Dhabi in 1977, is a world-leading provider of advanced self-propelled, self-elevating support vessels (SESVs) serving the offshore energy industry. Operating one of the youngest SESV fleets globally from bases in the UAE, Saudi Arabia and Qatar, the company supports clients across the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe in offshore platform maintenance and refurbishment, well intervention, and offshore wind turbine installation and maintenance, leveraging versatile K-, S- and E-Class vessels that offer cost and time efficiencies over conventional support ships.
Average Trading Volume: 1,962,870
Technical Sentiment Signal: Buy
Current Market Cap: £250.6M
For detailed information about GMS stock, go to TipRanks’ Stock Analysis page.