Subsea 7 (OTCMKTS:SUBCY) Shares Gap Up – Here’s What Happened

Subsea 7 SA (OTCMKTS:SUBCY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $33.00, but opened at $34.6475. Subsea 7 shares last traded at $34.6475, with a volume of 715 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SUBCY. Rothschild & Co Redburn upgraded Subsea 7 from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. UBS Group reaffirmed a “buy” rating on shares of Subsea 7 in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Subsea 7 presently has a consensus rating of “Moderate Buy”.

Subsea 7 Stock Up 0.1%

The stock’s fifty day moving average is $34.82 and its two-hundred day moving average is $33.17. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $10.14 billion, a PE ratio of 16.65 and a beta of 1.12.

Subsea 7 (OTCMKTS:SUBCY) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.91 billion. Subsea 7 had a net margin of 8.15% and a return on equity of 13.89%. As a group, analysts predict that Subsea 7 SA will post 2.66 EPS for the current year.

Subsea 7 Company Profile

Subsea 7 SA is a global offshore energy services company that designs, engineers and delivers complex projects for the energy industry. Its work spans offshore oil and gas, offshore wind and other emerging energy sectors, with services covering project management, engineering, procurement, construction and installation.

The company provides subsea, umbilicals, risers and flowlines (SURF) services; offshore pipeline and infrastructure installation; subsea inspection, maintenance and repair; and offshore renewable-energy solutions.