McDermott International (NYSE:MDR) had its price objective reduced by Deutsche Bank from $9.30 to $8.30 in a report issued on Thursday morning. They currently have a hold rating on the oil and gas company’s stock.
Several other research firms also recently commented on MDR. ValuEngine downgraded shares of McDermott International from a buy rating to a hold rating in a research note on Saturday, February 3rd. Zacks Investment Research downgraded shares of McDermott International from a hold rating to a strong sell rating in a research note on Wednesday, October 25th. KeyCorp reiterated a hold rating on shares of McDermott International in a research note on Friday, November 10th. Citigroup lifted their price objective on shares of McDermott International from $8.00 to $10.00 and gave the stock a neutral rating in a research note on Thursday, January 25th. Finally, Credit Suisse Group lowered their price objective on shares of McDermott International from $7.60 to $7.30 and set a neutral rating for the company in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $9.01.
McDermott International (NYSE MDR) opened at $7.56 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.03 and a debt-to-equity ratio of 0.29. McDermott International has a 1-year low of $5.56 and a 1-year high of $9.07. The stock has a market cap of $2,147.28, a price-to-earnings ratio of 12.00 and a beta of 1.58.
McDermott International (NYSE:MDR) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. McDermott International had a net margin of 5.98% and a return on equity of 10.68%. The business had revenue of $718.10 million for the quarter, compared to analyst estimates of $744.57 million. During the same period in the previous year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. sell-side analysts anticipate that McDermott International will post 0.46 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of MDR. Cambridge Investment Research Advisors Inc. acquired a new position in McDermott International during the fourth quarter valued at $103,000. Elkfork Partners LLC acquired a new position in McDermott International during the fourth quarter valued at $221,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in McDermott International during the fourth quarter valued at $1,481,000. Fairpointe Capital LLC lifted its position in McDermott International by 6.4% during the fourth quarter. Fairpointe Capital LLC now owns 16,699,289 shares of the oil and gas company’s stock valued at $109,882,000 after purchasing an additional 997,997 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new position in McDermott International during the fourth quarter valued at $892,000. Institutional investors and hedge funds own 89.39% 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.
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