Subsea 7 (OTCMKTS:SUBCY) Shares Gap Down – Here’s Why

Subsea 7 SA (OTCMKTS:SUBCY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $34.3750, but opened at $31.50. Subsea 7 shares last traded at $31.4190, with a volume of 3,788 shares.

Analysts Set New Price Targets

SUBCY has been the topic of a number of research reports. Rothschild & Co Redburn upgraded Subsea 7 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Zacks Research downgraded Subsea 7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. UBS Group raised Subsea 7 from an “overweight” rating to a “buy” rating in a research note on Thursday, July 23rd. Finally, Barclays cut Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Subsea 7 currently has a consensus rating of “Moderate Buy”.

Subsea 7 Price Performance

The stock has a market cap of $9.24 billion, a P/E ratio of 18.83 and a beta of 1.08. The business has a 50-day simple moving average of $34.44 and a 200 day simple moving average of $30.52. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.09.

Subsea 7 (OTCMKTS:SUBCY) last posted its quarterly earnings data on Thursday, April 30th. The energy company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Subsea 7 had a return on equity of 11.38% and a net margin of 6.67%.The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.62 billion. On average, analysts forecast that Subsea 7 SA will post 2.32 earnings per share for the current year.

Subsea 7 Company Profile

Subsea 7 SA is a global engineering, construction and services contractor serving the offshore energy industry. The company specializes in complex subsea infrastructure projects, offering pipeline and riser installation, umbilical and flowline deployment, and subsea tie-ins. Its fleet of specialized vessels, diving systems and remotely operated vehicles (ROVs) supports installation, inspection, maintenance and repair activities across the life cycle of offshore oil, gas and renewable energy fields.

With roots tracing back to the merger of Subsea 7 Inc and Acergy SA in 2011, Subsea 7 has built a broad international footprint.