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

Subsea 7 SA (OTCMKTS:SUBCY) gapped up prior to trading on Monday. The stock had previously closed at $32.98, but opened at $34.07. Subsea 7 shares last traded at $34.07, with a volume of 459 shares trading hands.

Analysts Set New Price Targets

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

Subsea 7 Trading Up 1.3%

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.02. The business’s 50 day moving average is $34.89 and its 200 day moving average is $34.47. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 16.68 and a beta of 1.21.

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

Subsea 7 Company Profile

Subsea 7 SA is a global offshore energy services company that delivers engineering, procurement, construction, installation and commissioning solutions for subsea and offshore projects. The company works with energy producers and contractors across the development, construction and operation of offshore assets.

Its services include subsea, umbilicals, risers and flowlines (SURF); conventional offshore installation; subsea inspection, maintenance and repair; and project management and engineering.