BidaskClub Lowers McDermott International, Inc. (MDR) to Strong Sell
McDermott International, Inc. (NYSE:MDR) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.
Other equities analysts have also issued research reports about the stock. TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Scotiabank reiterated a “buy” rating and set a $9.00 price target on shares of McDermott International in a report on Friday, July 28th. Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine lowered shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $7.00 price target (down previously from $8.00) on shares of McDermott International in a report on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. McDermott International currently has an average rating of “Buy” and an average price target of $8.29.
McDermott International (NYSE:MDR) opened at 5.81 on Thursday. The company has a market cap of $1.65 billion, a PE ratio of 22.35 and a beta of 1.37. 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 of $6.94 and a 200 day moving average of $6.84.
McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $788.20 million for the quarter, compared to analyst estimates of $856.54 million. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. McDermott International’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. Equities research analysts predict that McDermott International will post $0.42 EPS for the current year.
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A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in McDermott International by 3.2% in the first quarter. Vanguard Group Inc. now owns 22,983,621 shares of the oil and gas company’s stock valued at $155,139,000 after buying an additional 703,996 shares during the period. Highbridge Capital Management LLC bought a new stake in McDermott International during the first quarter valued at $1,934,000. Sei Investments Co. increased its stake in McDermott International by 104.7% in the first quarter. Sei Investments Co. now owns 31,741 shares of the oil and gas company’s stock valued at $214,000 after buying an additional 16,233 shares during the period. Hennessy Advisors Inc. bought a new stake in McDermott International during the first quarter valued at $3,312,000. Finally, Fox Run Management L.L.C. increased its stake in McDermott International by 34.5% in the first quarter. Fox Run Management L.L.C. now owns 42,500 shares of the oil and gas company’s stock valued at $287,000 after buying an additional 10,900 shares during the period. 76.55% of the stock is owned by hedge funds and other institutional investors.
About McDermott International
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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