Shares of McDermott International, Inc. (NYSE:MDR) have been given an average rating of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $8.05.
A number of equities research analysts have recently weighed in on the company. BidaskClub lowered McDermott International from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine lowered McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Howard Weil raised McDermott International from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 25th. Zacks Investment Research raised McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 target price for the company in a research note on Thursday, July 20th. Finally, Scotiabank reissued a “buy” rating and issued a $9.00 target price on shares of McDermott International in a research note on Friday, July 28th.
Shares of McDermott International (MDR) traded up 0.88% during midday trading on Friday, hitting $6.86. The stock had a trading volume of 1,458,096 shares. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 26.38 and a beta of 1.40. The firm’s 50-day moving average price is $6.26 and its 200-day moving average price is $6.56. McDermott International has a 1-year low of $4.41 and a 1-year high of $8.33.
McDermott International (NYSE:MDR) last released its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). McDermott International had a net margin of 2.95% and a return on equity of 5.55%. The company had revenue of $788.20 million during the quarter, compared to the consensus estimate of $856.54 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue was up 11.5% on a year-over-year basis. Analysts forecast that McDermott International will post $0.42 earnings per share for the current year.
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A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in McDermott International by 109.1% during the 2nd quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock valued at $252,397,000 after purchasing an additional 18,363,073 shares during the period. Vanguard Group Inc. increased its holdings in McDermott International by 31.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after purchasing an additional 7,129,111 shares during the period. Dimensional Fund Advisors LP increased its holdings in McDermott International by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 20,930,740 shares of the oil and gas company’s stock valued at $150,072,000 after purchasing an additional 2,717,602 shares during the period. LSV Asset Management increased its holdings in McDermott International by 9.5% during the 2nd quarter. LSV Asset Management now owns 14,466,996 shares of the oil and gas company’s stock valued at $103,728,000 after purchasing an additional 1,253,200 shares during the period. Finally, State Street Corp increased its holdings in McDermott International by 37.3% during the 2nd quarter. State Street Corp now owns 8,384,938 shares of the oil and gas company’s stock valued at $60,118,000 after purchasing an additional 2,277,274 shares during the period. Institutional investors own 87.09% of the company’s stock.
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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