McDermott International Inc (NYSE:MDR) has earned an average recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $27.06.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, July 25th. ValuEngine lowered shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Citigroup dropped their price objective on shares of McDermott International from $27.00 to $21.00 and set a “$17.66” rating on the stock in a research note on Monday, July 23rd. Credit Suisse Group dropped their price objective on shares of McDermott International from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, August 13th. Finally, KeyCorp dropped their price objective on shares of McDermott International from $42.00 to $38.00 and set a “$17.66” rating on the stock in a research note on Monday, July 23rd.
NYSE MDR opened at $18.49 on Thursday. McDermott International has a one year low of $16.14 and a one year high of $27.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $3.37 billion, a P/E ratio of 9.63 and a beta of 1.76.
McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.98 billion. McDermott International had a net margin of 5.04% and a return on equity of 10.38%. McDermott International’s revenue for the quarter was up 119.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. equities research analysts predict that McDermott International will post 1.53 EPS for the current year.
In other news, SVP Scott Munro sold 2,250 shares of McDermott International stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $17.87, for a total transaction of $40,207.50. Following the sale, the senior vice president now owns 35,270 shares in the company, valued at $630,274.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Hanson & Doremus Investment Management increased its stake in shares of McDermott International by 60.2% in the second quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock worth $134,000 after buying an additional 2,566 shares during the last quarter. Pitcairn Co. increased its stake in shares of McDermott International by 6.0% in the first quarter. Pitcairn Co. now owns 65,154 shares of the oil and gas company’s stock worth $397,000 after buying an additional 3,685 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of McDermott International by 27.7% in the first quarter. PNC Financial Services Group Inc. now owns 18,380 shares of the oil and gas company’s stock worth $112,000 after buying an additional 3,992 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of McDermott International in the second quarter worth $117,000. Finally, Icon Wealth Partners LLC bought a new stake in shares of McDermott International in the second quarter worth $134,000. Institutional investors and hedge funds own 87.82% of the company’s stock.
McDermott International Company Profile
McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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