McDermott International (MDR) Bonds Rise 0.9% During Trading

An issue of McDermott International Inc (NYSE:MDR) debt rose 0.9% against its face value during trading on Friday. The debt issue has a 8% coupon and is set to mature on May 1, 2021. The debt is now trading at $103.50. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

Several research analysts recently commented on the stock. ValuEngine raised shares of McDermott International from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 6th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a research note on Friday, November 10th. Zacks Investment Research downgraded shares of McDermott International from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. UBS Group raised their price target on shares of McDermott International from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Credit Suisse Group reduced their price target on shares of McDermott International from $7.60 to $7.30 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.59.

McDermott International Inc (NYSE:MDR) opened at $7.79 on Friday. The company has a market cap of $2,212.57, a PE ratio of 13.91 and a beta of 1.35. McDermott International Inc has a 12 month low of $5.56 and a 12 month high of $8.33. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.30.

McDermott International (NYSE:MDR) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.14. The company had revenue of $958.50 million for the quarter, compared to the consensus estimate of $977.28 million. McDermott International had a net margin of 5.25% and a return on equity of 9.56%. The firm’s revenue was up 71.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. analysts forecast that McDermott International Inc will post 0.53 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. bought a new position in McDermott International during the 3rd quarter worth about $1,379,000. Boston Advisors LLC grew its holdings in McDermott International by 14.2% during the 3rd quarter. Boston Advisors LLC now owns 750,595 shares of the oil and gas company’s stock worth $5,457,000 after acquiring an additional 93,300 shares in the last quarter. KBC Group NV bought a new position in McDermott International during the 3rd quarter worth about $2,597,000. Profund Advisors LLC bought a new position in McDermott International during the 2nd quarter worth about $341,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in McDermott International by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,778,286 shares of the oil and gas company’s stock worth $19,921,000 after acquiring an additional 107,473 shares in the last quarter. Institutional investors own 86.00% of the company’s stock.

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McDermott International Company Profile

McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.

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