Subsea 7 (OTCMKTS:SUBCY) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Subsea 7 S.A. (OTCMKTS:SUBCY) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $16.22 and traded as low as $15.86. Subsea 7 shares last traded at $16.05, with a volume of 654 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded Subsea 7 from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th.

Subsea 7 Stock Performance

The stock has a 50-day simple moving average of $16.20 and a 200-day simple moving average of $16.25. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 79.55 and a beta of 1.70. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16.

Subsea 7 (OTCMKTS:SUBCY) last announced its earnings results on Thursday, February 27th. The energy company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.15). The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.81 billion. Subsea 7 had a net margin of 1.63% and a return on equity of 2.37%. On average, analysts anticipate that Subsea 7 S.A. will post 0.86 earnings per share for the current year.

About Subsea 7

Subsea 7 SA delivers offshore projects and services for the energy industry worldwide. It provides subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore.