Brokerages Expect McDermott International Inc (MDR) Will Post Earnings of $0.21 Per Share

Brokerages predict that McDermott International Inc (NYSE:MDR) will report $0.21 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for McDermott International’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.15. McDermott International reported earnings per share of $0.30 in the same quarter last year, which would suggest a negative year-over-year growth rate of 30%. The firm is scheduled to announce its next earnings report on Wednesday, February 20th.

On average, analysts expect that McDermott International will report full-year earnings of $1.03 per share for the current financial year. For the next year, analysts forecast that the company will post earnings of $1.51 per share, with EPS estimates ranging from $1.47 to $1.55. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow McDermott International.

McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.09). The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.50 billion. McDermott International had a return on equity of 8.40% and a net margin of 2.05%. McDermott International’s revenue was up 138.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS.

Several brokerages recently commented on MDR. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, July 25th. Citigroup cut their price target on shares of McDermott International from $27.00 to $21.00 and set a “$17.66” rating for the company in a report on Monday, July 23rd. ValuEngine raised shares of McDermott International from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Credit Suisse Group cut their price target on shares of McDermott International from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, August 13th. Finally, KeyCorp cut their price target on shares of McDermott International from $42.00 to $38.00 and set a “$17.66” rating for the company in a report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $25.32.

In other McDermott International news, CEO David Dickson bought 39,800 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average price of $9.96 per share, with a total value of $396,408.00. Following the completion of the acquisition, the chief executive officer now directly owns 459,889 shares of the company’s stock, valued at $4,580,494.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stuart Spence bought 25,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The shares were acquired at an average cost of $9.98 per share, with a total value of $249,500.00. Following the acquisition, the chief financial officer now directly owns 141,961 shares of the company’s stock, valued at $1,416,770.78. The disclosure for this purchase can be found here. Insiders have bought 127,300 shares of company stock valued at $1,255,068 in the last ninety days. Insiders own 0.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Retirement Systems of Alabama purchased a new stake in shares of McDermott International in the second quarter valued at about $4,575,000. Highland Capital Management LLC purchased a new stake in shares of McDermott International in the second quarter valued at about $578,000. Amalgamated Bank purchased a new stake in shares of McDermott International in the second quarter valued at about $500,000. Nisa Investment Advisors LLC grew its holdings in shares of McDermott International by 549.3% in the second quarter. Nisa Investment Advisors LLC now owns 9,252 shares of the oil and gas company’s stock valued at $182,000 after purchasing an additional 7,827 shares during the period. Finally, Birmingham Capital Management Co. Inc. AL purchased a new stake in shares of McDermott International in the second quarter valued at about $269,000. 87.85% of the stock is owned by institutional investors and hedge funds.

NYSE MDR traded up $0.34 on Wednesday, hitting $10.29. The company had a trading volume of 4,637,171 shares, compared to its average volume of 3,643,481. The firm has a market cap of $1.58 billion, a PE ratio of 5.36 and a beta of 2.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.77 and a current ratio of 0.78. McDermott International has a 12-month low of $6.97 and a 12-month high of $27.21.

McDermott International Company Profile

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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