Shares of McDermott International Inc. (NYSE:MDR) have earned an average rating of “Hold” from the fourteen research firms that are covering the firm. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $4.92.
MDR has been the topic of a number of analyst reports. Imperial Capital reiterated an “outperform” rating and set a $7.00 price objective on shares of McDermott International in a research report on Friday, September 9th. Citigroup Inc. boosted their price objective on shares of McDermott International from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $6.00 price objective on the stock in a research report on Friday, July 29th.
McDermott International (NYSE:MDR) opened at 5.17 on Friday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 430.83 and a beta of 1.21. McDermott International has a 52-week low of $2.20 and a 52-week high of $6.00. The stock has a 50 day moving average price of $5.02 and a 200 day moving average price of $4.72.
McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.06. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. The business had revenue of $706.60 million for the quarter, compared to analysts’ expectations of $753.43 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The business’s revenue was down 32.5% compared to the same quarter last year. Analysts expect that McDermott International will post $0.13 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. KCG Holdings Inc. purchased a new stake in McDermott International during the second quarter valued at approximately $101,000. BNP Paribas Arbitrage SA raised its stake in McDermott International by 2,863.2% in the second quarter. BNP Paribas Arbitrage SA now owns 20,683 shares of the company’s stock valued at $102,000 after buying an additional 19,985 shares during the last quarter. Atria Investments LLC purchased a new stake in McDermott International during the second quarter valued at approximately $108,000. Ingalls & Snyder LLC purchased a new stake in McDermott International during the second quarter valued at approximately $121,000. Finally, BlackRock Inc. raised its stake in McDermott International by 7.5% in the first quarter. BlackRock Inc. now owns 31,880 shares of the company’s stock valued at $130,000 after buying an additional 2,211 shares during the last quarter. 78.97% of the stock is owned by institutional investors.
About McDermott International
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects.
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