McDermott International (MDR) Shares Gap Up to $20.40

Share on StockTwits

McDermott International (NYSE:MDR) gapped up prior to trading on Friday . The stock had previously closed at $19.75, but opened at $20.40. McDermott International shares last traded at $20.94, with a volume of 3649600 shares trading hands.

Several equities research analysts have weighed in on MDR shares. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “buy” rating and set a $22.50 target price for the company in a research note on Tuesday, March 27th. Citigroup lowered their target price on shares of McDermott International from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, April 13th. ValuEngine upgraded shares of McDermott International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 14th. Finally, Credit Suisse Group raised their target price on shares of McDermott International from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, May 24th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $25.56.

The company has a market cap of $1.94 billion, a price-to-earnings ratio of 10.91 and a beta of 1.91. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.28.

McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, April 24th. The oil and gas company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.18. The business had revenue of $607.82 million during the quarter, compared to analysts’ expectations of $610.00 million. McDermott International had a net margin of 6.24% and a return on equity of 11.91%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $0.24 earnings per share. research analysts forecast that McDermott International will post 1.47 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pitcairn Co. raised its holdings 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 last quarter. PNC Financial Services Group Inc. raised its holdings 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 last quarter. Municipal Employees Retirement System of Michigan raised its holdings 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 last quarter. Teachers Retirement System of The State of Kentucky raised its holdings 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of McDermott International by 93.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,937 shares of the oil and gas company’s stock worth $111,000 after buying an additional 8,176 shares during the last quarter.

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.

Receive News & Ratings for McDermott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply