McDermott International (NYSE:MDR) announced its quarterly earnings results on Tuesday. The oil and gas company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.09), MarketWatch Earnings reports. McDermott International had a net margin of 5.04% and a return on equity of 10.38%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $0.33 EPS. The business’s quarterly revenue was up 138.7% compared to the same quarter last year.
Shares of MDR stock traded down $5.05 during trading on Wednesday, reaching $7.82. The company’s stock had a trading volume of 19,828,990 shares, compared to its average volume of 2,882,860. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.96. The firm has a market cap of $2.43 billion, a PE ratio of 4.07 and a beta of 1.79. McDermott International has a one year low of $12.27 and a one year high of $27.21.
A number of brokerages have weighed in 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 on the stock in a research note on Wednesday, July 25th. Citigroup cut their price objective on shares of McDermott International from $27.00 to $21.00 and set a “$17.66” rating on the stock in a research report on Monday, July 23rd. ValuEngine raised shares of McDermott International from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. Credit Suisse Group cut their price objective on shares of McDermott International from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, August 13th. Finally, TheStreet lowered shares of McDermott International from a “b-” rating to a “c+” rating in a research report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.18.
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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