Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of McDermott International from a hold rating to a strong-buy rating and set a $8.50 price objective for the company in a report on Thursday, July 20th. BidaskClub upgraded shares of McDermott International from a hold rating to a buy rating in a report on Thursday, July 6th. TheStreet upgraded shares of McDermott International from a c rating to a b- rating in a report on Tuesday, July 25th. Finally, Scotiabank reiterated a buy rating and issued a $9.00 price objective on shares of McDermott International in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. McDermott International presently has a consensus rating of Hold and a consensus target price of $8.47.
Shares of McDermott International (NYSE MDR) traded down 0.96% during midday trading on Friday, hitting $7.19. The stock had a trading volume of 1,193,213 shares. The firm has a 50 day moving average price of $6.57 and a 200-day moving average price of $6.62. McDermott International has a 52-week low of $4.96 and a 52-week high of $8.33. The stock has a market cap of $2.04 billion, a PE ratio of 27.65 and a beta of 1.41.
McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). The company had revenue of $788.20 million during the quarter, compared to analysts’ expectations of $856.54 million. McDermott International had a net margin of 2.95% and a return on equity of 5.55%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share. Equities analysts predict that McDermott International will post $0.42 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/10/07/mcdermott-international-inc-mdr-receives-hold-rating-from-keycorp.html.
Hedge funds have recently added to or reduced their stakes in the business. Hillcrest Asset Management LLC acquired a new stake in shares of McDermott International during the 2nd quarter worth approximately $6,178,000. Koch Industries Inc. increased its holdings in shares of McDermott International by 711.3% during the 2nd quarter. Koch Industries Inc. now owns 164,323 shares of the oil and gas company’s stock worth $144,000 after buying an additional 144,069 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of McDermott International during the 2nd quarter worth approximately $1,620,000. Ameritas Investment Partners Inc. increased its holdings in shares of McDermott International by 19.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 24,867 shares of the oil and gas company’s stock worth $178,000 after buying an additional 3,988 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of McDermott International by 5.4% during the 2nd quarter. California State Teachers Retirement System now owns 501,858 shares of the oil and gas company’s stock worth $3,598,000 after buying an additional 25,647 shares during the last quarter. Institutional investors own 87.09% of the company’s stock.
McDermott International Company Profile
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.
Receive News & Ratings for McDermott International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.