On May 22, 2014, NOAA released its predictions for the Atlantic hurricane season, which begins June 1. The prediction is for 8-13 named storms, 3-6 hurricanes, and 1-2 major hurricanes.
This represents a near-normal to slightly below normal number of storms based on the average from 1981 to 2010. NOAA attributes the likely lower number of hurricanes to increasing signs of an El Niño event developing in the Pacific Ocean as well as Atlantic Ocean temperatures that are cooler than in the previous few years.
The full press release from NOAA is available here.