McDermott International (MDR) PT Lowered to $13.00 at Citigroup

McDermott International (NYSE:MDR) had its price target trimmed by Citigroup from $21.00 to $13.00 in a report released on Thursday morning. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Several other equities analysts have also recently commented on MDR. Zacks Investment Research upgraded McDermott International from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Wednesday, July 25th. ValuEngine raised McDermott International from a strong sell rating to a sell rating in a report on Thursday, August 2nd. Credit Suisse Group lowered their price target on McDermott International from $25.00 to $23.00 and set a neutral rating on the stock in a report on Monday, August 13th. KeyCorp lowered their price target on McDermott International from $42.00 to $38.00 and set a $17.66 rating on the stock in a report on Monday, July 23rd. Finally, TheStreet lowered McDermott International from a b- rating to a c+ rating in a report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $25.32.

Shares of NYSE MDR traded down $0.05 on Thursday, reaching $8.73. 7,268,642 shares of the company traded hands, compared to its average volume of 6,028,085. McDermott International has a fifty-two week low of $6.97 and a fifty-two week high of $27.21. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.78 and a quick ratio of 0.92. The company has a market cap of $1.58 billion, a P/E ratio of 4.55 and a beta of 2.58.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.09). McDermott International had a net margin of 2.05% and a return on equity of 8.40%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company earned $0.33 EPS. The company’s revenue was up 138.7% compared to the same quarter last year. As a group, equities research analysts anticipate that McDermott International will post 1.03 EPS for the current year.

In related news, SVP Scott Munro sold 2,250 shares of McDermott International stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $15.90, for a total transaction of $35,775.00. Following the transaction, the senior vice president now directly owns 33,020 shares of the company’s stock, valued at $525,018. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Barnett & Company Inc. boosted its position in McDermott International by 7.0% during the 3rd quarter. Barnett & Company Inc. now owns 194,673 shares of the oil and gas company’s stock worth $3,588,000 after acquiring an additional 12,758 shares during the period. Teton Advisors Inc. acquired a new stake in McDermott International during the 3rd quarter worth about $660,000. Advisory Services Network LLC boosted its position in McDermott International by 204.3% during the 3rd quarter. Advisory Services Network LLC now owns 22,155 shares of the oil and gas company’s stock worth $408,000 after acquiring an additional 14,875 shares during the period. Wells Fargo & Company MN boosted its position in McDermott International by 37.1% during the 3rd quarter. Wells Fargo & Company MN now owns 883,329 shares of the oil and gas company’s stock worth $16,279,000 after acquiring an additional 238,844 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new stake in McDermott International during the 3rd quarter worth about $147,000. 87.89% of the stock is currently owned by hedge funds and other institutional investors.

About McDermott International

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.

See Also: Hedge Funds – How They Work For Investors

Analyst Recommendations for McDermott International (NYSE:MDR)

Receive News & Ratings for McDermott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply