Subsea 7 (OTCMKTS:SUBCY) Shares Gap Down – Here’s Why

Subsea 7 SA (OTCMKTS:SUBCY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $36.34, but opened at $34.60. Subsea 7 shares last traded at $34.27, with a volume of 3,595 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Zacks Research cut Subsea 7 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Barclays cut Subsea 7 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, UBS Group restated an “overweight” rating on shares of Subsea 7 in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Subsea 7 currently has a consensus rating of “Hold”.

Subsea 7 Price Performance

The stock has a fifty day moving average of $34.29 and a 200-day moving average of $27.70. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $10.11 billion, a P/E ratio of 20.60 and a beta of 1.08.

Subsea 7 (OTCMKTS:SUBCY) last announced its earnings results on Thursday, April 30th. The energy company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Subsea 7 had a return on equity of 11.38% and a net margin of 6.67%.The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.62 billion. Equities analysts predict that Subsea 7 SA will post 2.29 EPS for the current fiscal year.

Subsea 7 Company Profile

Subsea 7 SA is a global engineering, construction and services contractor serving the offshore energy industry. The company specializes in complex subsea infrastructure projects, offering pipeline and riser installation, umbilical and flowline deployment, and subsea tie-ins. Its fleet of specialized vessels, diving systems and remotely operated vehicles (ROVs) supports installation, inspection, maintenance and repair activities across the life cycle of offshore oil, gas and renewable energy fields.

With roots tracing back to the merger of Subsea 7 Inc and Acergy SA in 2011, Subsea 7 has built a broad international footprint.