Analysts expect that McDermott International (NYSE:MDR) will post $852.58 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for McDermott International’s earnings, with the lowest sales estimate coming in at $828 million and the highest estimate coming in at $877.16 million. McDermott International reported sales of $706.63 million in the same quarter last year, which would suggest a positive year over year growth rate of 20.7%. The company is scheduled to issue its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that McDermott International will report full year sales of $852.58 million for the current financial year, with estimates ranging from $3.17 billion to $3.19 billion. For the next year, analysts forecast that the business will post sales of $3.22 billion per share, with estimates ranging from $3.19 billion to $3.26 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow McDermott International.
McDermott International (NYSE:MDR) last issued its earnings results on Tuesday, April 25th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.07. McDermott International had a net margin of 0.60% and a return on equity of 6.41%. The company had revenue of $519.40 million for the quarter, compared to analysts’ expectations of $689.30 million. During the same period in the prior year, the business earned $0.13 EPS. The firm’s quarterly revenue was down 28.8% on a year-over-year basis.
MDR has been the subject of a number of analyst reports. Citigroup Inc boosted their price objective on McDermott International from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Zacks Investment Research raised McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target for the company in a report on Monday, January 16th. Scotiabank set a $9.00 price target on McDermott International and gave the company a “hold” rating in a report on Friday, March 31st. Credit Suisse Group AG upped their price target on McDermott International from $5.45 to $8.80 and gave the company a “neutral” rating in a report on Tuesday, January 31st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $7.00 price target (down from $8.00) on shares of McDermott International in a report on Saturday, April 22nd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. McDermott International currently has a consensus rating of “Hold” and a consensus price target of $7.78.
A number of large investors have recently modified their holdings of the stock. Old Mutual Global Investors UK Ltd. boosted its stake in shares of McDermott International by 226.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 351,887 shares of the oil and gas company’s stock worth $1,762,000 after buying an additional 244,087 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of McDermott International by 553.7% in the third quarter. PNC Financial Services Group Inc. now owns 29,489 shares of the oil and gas company’s stock worth $146,000 after buying an additional 24,978 shares in the last quarter. Sei Investments Co. boosted its stake in shares of McDermott International by 241.6% in the third quarter. Sei Investments Co. now owns 20,326 shares of the oil and gas company’s stock worth $101,000 after buying an additional 14,376 shares in the last quarter. BlackRock Advisors LLC boosted its stake in shares of McDermott International by 101.2% in the third quarter. BlackRock Advisors LLC now owns 244,492 shares of the oil and gas company’s stock worth $1,225,000 after buying an additional 122,977 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in shares of McDermott International by 1.1% in the third quarter. BlackRock Investment Management LLC now owns 1,001,892 shares of the oil and gas company’s stock worth $5,019,000 after buying an additional 10,717 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.
Shares of McDermott International (NYSE:MDR) traded up 0.0782% on Wednesday, reaching $6.6552. 539,622 shares of the company’s stock traded hands. The firm has a market capitalization of $1.89 billion, a P/E ratio of 33.2760 and a beta of 1.52. McDermott International has a 52 week low of $4.17 and a 52 week high of $8.33. The firm’s 50 day moving average is $6.52 and its 200 day moving average is $6.89.
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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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