McDermott International, Inc. (NYSE:MDR) has been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.79.

MDR has been the subject of a number of analyst reports. Scotiabank raised shares of McDermott International from a “sector perform” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Thursday, May 25th. BidaskClub raised shares of McDermott International from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. ValuEngine cut shares of McDermott International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Deutsche Bank AG reiterated a “hold” rating and set a $7.00 price objective (down previously from $8.00) on shares of McDermott International in a research note on Saturday, April 22nd. Finally, Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDR. CIBC World Markets Inc. purchased a new position in shares of McDermott International during the first quarter valued at approximately $101,000. HighTower Advisors LLC increased its position 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. O Shaughnessy Asset Management LLC purchased a new position in shares of McDermott International during the first quarter valued at approximately $128,000. Teacher Retirement System of Texas raised its stake in McDermott International by 4.6% in the first quarter. Teacher Retirement System of Texas now owns 19,136 shares of the oil and gas company’s stock valued at $129,000 after buying an additional 849 shares in the last quarter. Finally, Koch Industries Inc. raised its stake in McDermott International by 97.0% in the first quarter. Koch Industries Inc. now owns 20,254 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 9,974 shares in the last quarter. Institutional investors and hedge funds own 73.83% of the company’s stock.

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McDermott International (NYSE:MDR) traded up 0.53% on Monday, hitting $7.59. The stock had a trading volume of 1,719,226 shares. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 37.95 and a beta of 1.38. McDermott International has a 52-week low of $4.41 and a 52-week high of $8.33. The company has a 50 day moving average price of $6.48 and a 200-day moving average price of $7.00.

McDermott International (NYSE:MDR) last announced its quarterly earnings results on Tuesday, April 25th. The oil and gas company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. McDermott International had a net margin of 2.40% and a return on equity of 4.75%. The firm had revenue of $519.40 million during the quarter, compared to analysts’ expectations of $689.30 million. During the same period in the prior year, the company earned $0.13 EPS. The firm’s revenue was down 28.8% on a year-over-year basis. On average, equities research analysts predict that McDermott International will post $0.42 earnings per share for the current year.

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.

Analyst Recommendations for McDermott International (NYSE:MDR)

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