Zacks: Analysts Anticipate McDermott International Inc (MDR) Will Announce Earnings of $0.05 Per Share

Brokerages expect that McDermott International Inc (NYSE:MDR) will announce $0.05 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for McDermott International’s earnings. The highest EPS estimate is $0.09 and the lowest is $0.01. McDermott International posted earnings per share of $0.08 in the same quarter last year, which would indicate a negative year over year growth rate of 37.5%. The company is expected to report its next earnings report on Tuesday, April 24th.

On average, analysts expect that McDermott International will report full year earnings of $0.46 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $0.47. For the next fiscal year, analysts anticipate that the company will post earnings of $0.50 per share. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for McDermott International.

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McDermott International (NYSE:MDR) last posted its earnings results on Wednesday, February 21st. The oil and gas company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. McDermott International had a return on equity of 10.68% and a net margin of 5.98%. The company had revenue of $718.10 million for the quarter, compared to the consensus estimate of $744.57 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. McDermott International’s revenue was up 11.9% on a year-over-year basis.

MDR has been the topic of a number of recent research reports. Morgan Stanley reissued a “sell” rating on shares of McDermott International in a report on Wednesday, December 20th. Zacks Investment Research raised McDermott International from a “sell” rating to a “hold” rating in a report on Monday, January 15th. KeyCorp raised McDermott International from a “sector weight” rating to an “overweight” rating in a report on Tuesday, January 23rd. Deutsche Bank lowered their target price on McDermott International from $9.30 to $8.30 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $8.80 target price (up previously from $7.30) on shares of McDermott International in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. McDermott International currently has a consensus rating of “Hold” and an average target price of $8.87.

MDR stock traded down $0.27 during trading on Friday, reaching $5.61. The stock had a trading volume of 22,478,048 shares, compared to its average volume of 8,025,615. McDermott International has a 52 week low of $5.38 and a 52 week high of $9.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market cap of $1,670.11, a price-to-earnings ratio of 8.77 and a beta of 1.86.

A number of institutional investors and hedge funds have recently modified their holdings of MDR. Dimensional Fund Advisors LP increased its position in McDermott International by 10.3% in the third quarter. Dimensional Fund Advisors LP now owns 23,082,635 shares of the oil and gas company’s stock worth $167,811,000 after buying an additional 2,151,895 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in McDermott International in the fourth quarter worth about $12,626,000. Clearline Capital LP purchased a new stake in McDermott International in the fourth quarter worth about $8,943,000. Evanston Investments Inc. dba Evanston Advisors purchased a new stake in McDermott International in the fourth quarter worth about $8,287,000. Finally, Hudson Bay Capital Management LP purchased a new stake in McDermott International in the fourth quarter worth about $7,318,000. Institutional investors and hedge funds own 97.69% of the company’s stock.

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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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