Other equities research analysts have also issued reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and set a 87.00 price objective (down from 92.00) on shares of Subsea 7 in a research note on Thursday, July 29th. DNB Markets upgraded Subsea 7 from a “hold” rating to a “buy” rating in a report on Thursday, July 29th. HSBC upgraded Subsea 7 from a “hold” rating to a “buy” rating and decreased their price objective for the company from 96.00 to 84.00 in a report on Wednesday, August 18th. Finally, Zacks Investment Research upgraded Subsea 7 from a “sell” rating to a “hold” rating in a research note on Saturday, August 21st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $60.67.
Shares of OTCMKTS:SUBCY traded up $0.13 during trading on Wednesday, hitting $7.53. The company had a trading volume of 17,982 shares, compared to its average volume of 13,760. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.15 and a quick ratio of 1.13. The company has a fifty day simple moving average of $8.14 and a two-hundred day simple moving average of $9.51. Subsea 7 has a one year low of $6.16 and a one year high of $11.49. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -14.48 and a beta of 2.07.
About Subsea 7
Subsea 7 SA engages in the provision of engineering and construction services to the offshore drilling industry. It provides cost-effective technical solutions to enable the delivery of complex projects in all water depths and challenging environments. The company was founded on March 10, 1993 and is headquartered in London, the United Kingdom.
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