Shares of McDermott International, Inc. (NYSE:MDR) have earned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.33.
Several analysts have recently issued reports on the stock. BidaskClub cut shares of McDermott International from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Scotiabank reissued a “buy” rating and set a $9.00 price target on shares of McDermott International in a research report on Friday, July 28th. TheStreet raised shares of McDermott International from a “c” rating to a “b-” rating in a research report on Tuesday, July 25th. ValuEngine cut shares of McDermott International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research cut shares of McDermott International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th.
A number of hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC purchased a new stake in shares of McDermott International during the second quarter valued at $106,000. CIBC World Markets Inc. purchased a new stake in shares of McDermott International during the first quarter valued at $101,000. Everence Capital Management Inc. purchased a new stake in shares of McDermott International during the second quarter valued at $116,000. HighTower Advisors LLC boosted its stake in shares of McDermott International by 13.0% in the first quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,000 shares during the period. Finally, World Asset Management Inc purchased a new stake in shares of McDermott International during the second quarter valued at $134,000. 73.82% of the stock is currently owned by hedge funds and other institutional investors.
McDermott International (MDR) traded down 0.32% during midday trading on Friday, hitting $6.19. 2,974,499 shares of the stock traded hands. The firm has a market cap of $1.76 billion, a PE ratio of 23.81 and a beta of 1.37. The stock has a 50-day moving average of $7.03 and a 200 day moving average of $6.90. McDermott International has a 52-week low of $4.41 and a 52-week high of $8.33.
McDermott International (NYSE:MDR) last announced its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company had revenue of $788.20 million for the quarter, compared to analysts’ expectations of $856.54 million. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. Equities analysts forecast that McDermott International will post $0.42 EPS for the current year.
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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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