Zacks Investment Research Lowers Subsea 7 SA (SUBCY) to Hold
Subsea 7 SA (NASDAQ:SUBCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Subsea 7 S.A., formerly known as Acergy S.A., operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Company is engaged in the design, fabrication, installation and commissioning of seabed-to-surface projects and its scope of operations include Subsea, Umbilical, Riser and Flowline (SURF) systems; Life-of-Field; Conventional Services and Renewables. Services offered by the Company ranges from engineering and construction for subsea field developments, pipeline and riser systems and associated services, inspection, maintenance and repair, integrity management and remote intervention, fabrication and installation of fixed platforms and associated pipelines, as well as hook-up and platform refurbishment. Subsea 7 S.A. is based in London, United Kingdom. “
Several other research analysts have also recently weighed in on SUBCY. BNP Paribas cut Subsea 7 SA from an “outperform” rating to a “neutral” rating in a research report on Monday, September 12th. Credit Suisse Group AG began coverage on Subsea 7 SA in a research report on Monday, September 19th. They set an “underperform” rating for the company. Finally, JPMorgan Chase & Co. cut Subsea 7 SA from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 26th.
Shares of Subsea 7 SA (NASDAQ:SUBCY) opened at 10.48 on Thursday. The company has a market capitalization of $3.41 billion and a price-to-earnings ratio of 190.55. The stock has a 50 day moving average of $10.70 and a 200-day moving average of $9.45. Subsea 7 SA has a 1-year low of $4.86 and a 1-year high of $11.60.
About Subsea 7 SA
Subsea 7 SA is a provider of seabed-to-surface engineering, construction and offshore installation services to the energy industry. The Company’s operating segments include Northern Hemisphere and Life of Field, Southern Hemisphere and Global Projects, and Corporate. The Company provides products and services for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation and commissioning of production facilities on the seabed and the tie-back of these facilities to fixed or floating platforms or to the shore.
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