McDermott International (MDR) Rating Reiterated by Morgan Stanley
Several other research analysts have also weighed in on MDR. Zacks Investment Research upgraded McDermott International from a sell rating to a hold rating in a research report on Friday, November 3rd. KeyCorp reiterated a hold rating on shares of McDermott International in a research report on Friday, November 10th. Credit Suisse Group lowered their price objective on McDermott International from $7.60 to $7.30 and set a neutral rating for the company in a research report on Thursday, November 2nd. Scotiabank reiterated a buy rating and issued a $9.00 price objective on shares of McDermott International in a research report on Wednesday, November 1st. Finally, Deutsche Bank lowered their price objective on McDermott International from $6.50 to $5.25 and set a hold rating for the company in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $7.59.
Shares of McDermott International (NYSE MDR) opened at $6.77 on Wednesday. McDermott International has a fifty-two week low of $5.56 and a fifty-two week high of $8.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market capitalization of $1,945.58, a P/E ratio of 12.54 and a beta of 1.35.
McDermott International (NYSE:MDR) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.19 by $0.14. The firm had revenue of $958.50 million during the quarter, compared to analysts’ expectations of $977.28 million. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The business’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. research analysts forecast that McDermott International will post 0.53 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in shares of McDermott International during the third quarter worth $2,181,000. Neuberger Berman Group LLC boosted its position in shares of McDermott International by 21.7% during the third quarter. Neuberger Berman Group LLC now owns 1,951,233 shares of the oil and gas company’s stock worth $14,185,000 after buying an additional 347,995 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of McDermott International during the third quarter worth $112,000. Vident Investment Advisory LLC boosted its position in shares of McDermott International by 21.8% during the third quarter. Vident Investment Advisory LLC now owns 371,282 shares of the oil and gas company’s stock worth $2,699,000 after buying an additional 66,508 shares during the period. Finally, Magnetar Financial LLC purchased a new position in shares of McDermott International during the third quarter worth $558,000. Institutional investors and hedge funds own 86.00% 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.
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