TheStreet cut shares of McDermott International (NYSE:MDR) from a c- rating to a d rating in a research report report published on Monday morning.

A number of other research firms have also recently commented on MDR. ValuEngine raised shares of McDermott International from a strong sell rating to a sell rating in a research note on Friday, March 1st. Zacks Investment Research reaffirmed a sell rating on shares of McDermott International in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. McDermott International has an average rating of Hold and a consensus price target of $23.50.

McDermott International stock opened at $7.94 on Monday. McDermott International has a twelve month low of $6.10 and a twelve month high of $23.55. The company has a debt-to-equity ratio of 4.20, a quick ratio of 0.70 and a current ratio of 0.72. The stock has a market capitalization of $1.52 billion, a PE ratio of -8.02 and a beta of 2.76.

McDermott International (NYSE:MDR) last released its quarterly earnings results on Monday, February 25th. The oil and gas company reported ($1.55) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($1.76). McDermott International had a negative return on equity of 3.20% and a negative net margin of 40.07%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. McDermott International’s revenue for the quarter was up 188.7% on a year-over-year basis. On average, equities analysts forecast that McDermott International will post 1.69 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in McDermott International by 892.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,250,422 shares of the oil and gas company’s stock valued at $59,905,000 after buying an additional 2,922,760 shares during the period. Norges Bank purchased a new stake in McDermott International in the 4th quarter valued at about $17,301,000. Millennium Management LLC boosted its position in McDermott International by 274.9% in the 4th quarter. Millennium Management LLC now owns 3,101,248 shares of the oil and gas company’s stock valued at $20,282,000 after buying an additional 2,274,013 shares during the period. Bank of New York Mellon Corp purchased a new stake in McDermott International in the 2nd quarter valued at about $43,106,000. Finally, Van ECK Associates Corp boosted its position in McDermott International by 67.9% in the 4th quarter. Van ECK Associates Corp now owns 4,247,475 shares of the oil and gas company’s stock valued at $27,778,000 after buying an additional 1,717,884 shares during the period. 87.23% of the stock is owned by hedge funds and other institutional investors.

McDermott International Company Profile

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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