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The latest update is out from Gulf Marine Services ( (GB:GMS) ).
Gulf Marine Services has secured a variation order from a major Middle Eastern national oil company extending an existing contract for two vessels by up to six additional years, including options, lifting its contract backlog to US$700 million. The extension underlines sustained regional demand for GMS’s self-propelled, self-elevating support vessels, provides greater revenue visibility for the coming years, and strengthens the company’s positioning to pursue further growth and deliver returns to shareholders in the offshore energy support market.
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) for the offshore energy industry. Operating a young fleet of 15 SESVs from bases in the UAE, Saudi Arabia and Qatar, the company supports offshore platform maintenance and refurbishment, well intervention, and offshore wind turbine operations, as well as platform and turbine installation and decommissioning across regions including the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico and Europe.
Average Trading Volume: 1,995,096
Technical Sentiment Signal: Buy
Current Market Cap: £252.9M
For a thorough assessment of GMS stock, go to TipRanks’ Stock Analysis page.