McDermott International Inc (NYSE:MDR) fell 0.6% during mid-day trading on Friday . The stock traded as low as $6.87 and last traded at $6.83. 3,865,201 shares traded hands during trading, a decline of 42% from the average session volume of 6,678,468 shares. The stock had previously closed at $6.87.
Several brokerages have issued reports on MDR. ValuEngine raised McDermott International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 14th. Alembic Global Advisors set a $11.00 price objective on McDermott International and gave the stock a “buy” rating in a report on Thursday, February 22nd. Credit Suisse Group reiterated a “neutral” rating and issued a $8.80 price objective (up previously from $7.30) on shares of McDermott International in a report on Thursday, February 22nd. Deutsche Bank decreased their price objective on McDermott International from $9.30 to $8.30 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Finally, Zacks Investment Research downgraded McDermott International from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.01.
The firm has a market cap of $2,059.23, a price-to-earnings ratio of 10.67 and a beta of 1.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.03 and a quick ratio of 2.03.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The firm had revenue of $718.10 million for the quarter, compared to the consensus estimate of $744.57 million. McDermott International had a return on equity of 10.68% and a net margin of 5.98%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. equities research analysts expect that McDermott International Inc will post 0.46 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky increased its holdings in McDermott International by 8.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 92,700 shares of the oil and gas company’s stock valued at $610,000 after purchasing an additional 7,000 shares during the period. Louisiana State Employees Retirement System increased its holdings in McDermott International by 6.2% during the 4th quarter. Louisiana State Employees Retirement System now owns 122,200 shares of the oil and gas company’s stock valued at $804,000 after purchasing an additional 7,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in McDermott International by 93.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,937 shares of the oil and gas company’s stock valued at $111,000 after purchasing an additional 8,176 shares during the period. Vident Investment Advisory LLC increased its holdings in McDermott International by 2.3% during the 4th quarter. Vident Investment Advisory LLC now owns 379,768 shares of the oil and gas company’s stock valued at $2,499,000 after purchasing an additional 8,486 shares during the period. Finally, American International Group Inc. increased its holdings in McDermott International by 2.5% during the 3rd quarter. American International Group Inc. now owns 360,329 shares of the oil and gas company’s stock valued at $2,620,000 after purchasing an additional 8,740 shares during the period. Institutional investors own 97.68% of the company’s stock.
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About McDermott International
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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