McDermott International Inc. (NYSE:MDR) Receives Consensus Recommendation of “Hold” from Analysts
Shares of McDermott International Inc. (NYSE:MDR) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are covering the firm. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.92.
Several research analysts have recently commented on MDR shares. Zacks Investment Research downgraded McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Citigroup Inc. lifted their price objective on McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Finally, Imperial Capital lifted their price objective on McDermott International from $6.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDR. Virginia Retirement System purchased a new position in McDermott International during the first quarter worth $382,000. TIAA CREF Investment Management LLC boosted its position in McDermott International by 6.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,467,528 shares of the company’s stock worth $6,002,000 after buying an additional 89,818 shares during the last quarter. Teachers Advisors Inc. boosted its position in McDermott International by 33.7% in the first quarter. Teachers Advisors Inc. now owns 3,523,653 shares of the company’s stock worth $14,412,000 after buying an additional 887,989 shares during the last quarter. Algert Global LLC boosted its position in McDermott International by 13.6% in the first quarter. Algert Global LLC now owns 48,371 shares of the company’s stock worth $198,000 after buying an additional 5,781 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in McDermott International by 18.3% in the first quarter. Franklin Resources Inc. now owns 2,033,100 shares of the company’s stock worth $8,315,000 after buying an additional 315,100 shares during the last quarter. 78.97% of the stock is owned by institutional investors.
Shares of McDermott International (NYSE:MDR) traded down 1.14% during midday trading on Friday, hitting $5.22. The company had a trading volume of 2,134,271 shares. The company has a market capitalization of $1.26 billion, a P/E ratio of 435.00 and a beta of 1.21. McDermott International has a 52 week low of $2.20 and a 52 week high of $6.00. The firm’s 50 day moving average is $5.02 and its 200 day moving average is $4.71.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The firm had revenue of $706.60 million for the quarter, compared to the consensus estimate of $753.43 million. McDermott International had a return on equity of 6.51% and a net margin of 0.12%. The company’s quarterly revenue was down 32.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share. Equities research analysts anticipate that McDermott International will post $0.13 EPS for the current year.
About McDermott International
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects.
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