Shares of McDermott International Inc (NYSE:MDR) saw an uptick in trading volume on Tuesday . 38,394,047 shares changed hands during mid-day trading, an increase of 349% from the previous session’s volume of 8,545,760 shares.The stock last traded at $6.32 and had previously closed at $6.28.
Several brokerages have recently issued reports on MDR. Citigroup decreased their price target on McDermott International from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, April 13th. ValuEngine lowered McDermott International from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research lowered McDermott International from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Alembic Global Advisors set a $11.00 price target on McDermott International and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $8.80 price target (up previously from $7.30) on shares of McDermott International in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $8.59.
The stock has a market capitalization of $1,795.08, a price-to-earnings ratio of 9.88 and a beta of 1.86. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.29.
McDermott International (NYSE:MDR) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The business had revenue of $718.10 million for the quarter, compared to analyst estimates of $744.57 million. McDermott International had a return on equity of 10.68% and a net margin of 5.98%. McDermott International’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS. equities analysts forecast that McDermott International Inc will post 0.46 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of MDR. Wells Fargo & Company MN grew its position in McDermott International by 28.2% during the 3rd quarter. Wells Fargo & Company MN now owns 378,068 shares of the oil and gas company’s stock worth $2,747,000 after acquiring an additional 83,096 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of McDermott International in the 3rd quarter valued at about $112,000. Neuberger Berman Group LLC grew its position in shares of McDermott International by 21.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,951,233 shares of the oil and gas company’s stock valued at $14,185,000 after buying an additional 347,995 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of McDermott International by 6.2% in 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 buying an additional 7,100 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of McDermott International in the 4th quarter valued at about $962,000. Institutional investors and hedge funds own 97.69% 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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