McDermott International, Inc. (NYSE:MDR) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
Other research analysts also recently issued research reports about the company. TheStreet upgraded McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Scotiabank reissued a “buy” rating and issued a $9.00 price target on shares of McDermott International in a research report on Wednesday, November 1st. Deutsche Bank AG dropped their price target on McDermott International from $6.50 to $5.25 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. KeyCorp reissued a “hold” rating on shares of McDermott International in a research report on Friday, October 6th. Finally, BidaskClub cut McDermott International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. McDermott International currently has a consensus rating of “Hold” and an average target price of $7.94.
McDermott International (NYSE:MDR) opened at $7.18 on Wednesday. McDermott International has a twelve month low of $5.56 and a twelve month high of $8.33. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2,060.00, a P/E ratio of 13.64 and a beta of 1.32.
McDermott International (NYSE:MDR) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.14. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The firm had revenue of $958.50 million for the quarter, compared to the consensus estimate of $977.28 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s revenue for the quarter was up 71.6% on a year-over-year basis. sell-side analysts expect that McDermott International will post 0.52 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new position in McDermott International in the 2nd quarter valued at approximately $106,000. Cubist Systematic Strategies LLC bought a new position in McDermott International in the 3rd quarter valued at approximately $112,000. Meeder Asset Management Inc. lifted its position in McDermott International by 234.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 11,310 shares in the last quarter. Everence Capital Management Inc. bought a new position in McDermott International in the 2nd quarter valued at approximately $116,000. Finally, HighTower Advisors LLC lifted its position in McDermott International by 13.0% in the 1st quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 2,000 shares in the last quarter. 84.35% of the stock is currently owned by institutional investors and hedge funds.
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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