McDermott International (MDR) Reaches New 52-Week Low at $14.63

McDermott International Inc (NYSE:MDR)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $14.63 and last traded at $14.83, with a volume of 166337 shares trading hands. The stock had previously closed at $15.18.

A number of brokerages recently commented on MDR. Citigroup dropped their price target on McDermott International from $27.00 to $21.00 and set a “$17.66” rating for the company in a research note on Monday, July 23rd. ValuEngine lowered McDermott International from a “hold” rating to a “sell” rating in a research note on Friday, June 22nd. Zacks Investment Research lowered McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Credit Suisse Group dropped their price target on McDermott International from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, August 13th. Finally, KeyCorp lowered their price objective on McDermott International from $42.00 to $38.00 and set a “$17.66” rating for the company in a research note on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.18.

The company has a market cap of $3.33 billion, a PE ratio of 7.78 and a beta of 1.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.93 and a quick ratio of 0.92.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, July 31st. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.98 billion. McDermott International had a return on equity of 10.38% and a net margin of 5.04%. The company’s revenue for the quarter was up 119.9% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. Equities analysts predict that McDermott International Inc will post 1.53 EPS for the current year.

Large investors have recently bought and sold shares of the company. Fairfax Financial Holdings Ltd Can bought a new stake in shares of McDermott International in the 2nd quarter valued at approximately $12,879,000. Renaissance Technologies LLC bought a new stake in shares of McDermott International during the 2nd quarter worth approximately $37,690,000. Fox Run Management L.L.C. bought a new stake in shares of McDermott International during the 3rd quarter worth approximately $728,000. Luminus Management LLC bought a new stake in shares of McDermott International during the 2nd quarter worth approximately $45,791,000. Finally, Nokota Management LP bought a new stake in shares of McDermott International during the 2nd quarter worth approximately $30,719,000. 87.82% of the stock is owned by institutional investors and hedge funds.

About McDermott International (NYSE:MDR)

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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