McDermott International, Inc. (MDR) Earns Hold Rating from KeyCorp

KeyCorp reiterated their hold rating on shares of McDermott International, Inc. (NYSE:MDR) in a research note issued to investors on Friday morning.

Other equities analysts have also recently issued reports about the company. BidaskClub cut McDermott International from a buy rating to a hold rating in a report on Monday, July 24th. Scotiabank reiterated a buy rating and issued a $9.00 price objective on shares of McDermott International in a report on Friday, July 28th. TheStreet upgraded McDermott International from a c rating to a b- rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded McDermott International from a hold rating to a strong-buy rating and set a $8.50 price objective for the company in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average price target of $8.47.

McDermott International (NYSE:MDR) opened at 7.19 on Friday. McDermott International has a 52-week low of $4.96 and a 52-week high of $8.33. The firm has a 50-day moving average price of $6.57 and a 200 day moving average price of $6.62. The company has a market capitalization of $2.04 billion, a P/E ratio of 27.65 and a beta of 1.40.

McDermott International (NYSE:MDR) last posted its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The business had revenue of $788.20 million for the quarter, compared to analysts’ expectations of $856.54 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. McDermott International’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that McDermott International will post $0.42 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of McDermott International by 109.1% in the 2nd quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock worth $252,397,000 after purchasing an additional 18,363,073 shares in the last quarter. Vanguard Group Inc. boosted its holdings in McDermott International by 31.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after acquiring an additional 7,129,111 shares during the period. Dimensional Fund Advisors LP boosted its holdings in McDermott International by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 20,930,740 shares of the oil and gas company’s stock valued at $150,072,000 after acquiring an additional 2,717,602 shares during the period. LSV Asset Management boosted its holdings in McDermott International by 9.5% during the 2nd quarter. LSV Asset Management now owns 14,466,996 shares of the oil and gas company’s stock valued at $103,728,000 after acquiring an additional 1,253,200 shares during the period. Finally, State Street Corp boosted its holdings in McDermott International by 37.3% during the 2nd quarter. State Street Corp now owns 8,384,938 shares of the oil and gas company’s stock valued at $60,118,000 after acquiring an additional 2,277,274 shares during the period. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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.

Analyst Recommendations for McDermott International (NYSE:MDR)

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