ValuEngine cut shares of McDermott International (NYSE:MDR) from a sell rating to a strong sell rating in a research report report published on Wednesday.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised McDermott International from a hold rating to a buy rating and set a $22.50 price target for the company in a report on Thursday, April 26th. Credit Suisse Group boosted their price target on McDermott International from $21.00 to $25.00 and gave the stock a neutral rating in a report on Thursday, May 24th. Finally, Citigroup cut their price target on McDermott International from $30.00 to $24.00 and set a neutral rating for the company in a report on Friday, April 13th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $25.56.
MDR opened at $17.88 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 9.31 and a beta of 1.87. McDermott International has a one year low of $16.14 and a one year high of $27.21.
McDermott International (NYSE:MDR) last posted its earnings results on Tuesday, April 24th. The oil and gas company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.18. McDermott International had a return on equity of 11.91% and a net margin of 6.24%. The company had revenue of $607.82 million for the quarter, compared to the consensus estimate of $610.00 million. During the same period in the previous year, the business earned $0.24 earnings per share. McDermott International’s quarterly revenue was up 17.0% compared to the same quarter last year. equities analysts anticipate that McDermott International will post 1.47 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Pitcairn Co. boosted its position in shares of McDermott International by 6.0% in the first quarter. Pitcairn Co. now owns 65,154 shares of the oil and gas company’s stock worth $397,000 after buying an additional 3,685 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of McDermott International by 27.7% in the first quarter. PNC Financial Services Group Inc. now owns 18,380 shares of the oil and gas company’s stock worth $112,000 after buying an additional 3,992 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of McDermott International by 4.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 152,220 shares of the oil and gas company’s stock worth $927,000 after buying an additional 5,950 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of McDermott International by 8.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 92,700 shares of the oil and gas company’s stock worth $610,000 after buying an additional 7,000 shares during the period. Finally, Comerica Bank boosted its position in shares of McDermott International by 2.8% in the first quarter. Comerica Bank now owns 300,448 shares of the oil and gas company’s stock worth $1,853,000 after buying an additional 8,298 shares during the period.
About McDermott International
McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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