McDermott International Lowered to Underweight at HSBC (MDR)
McDermott International (NYSE:MDR) was downgraded by equities research analysts at HSBC from a “neutral” rating to an “underweight” rating in a research note issued to investors on Tuesday, AnalystRatings.Net reports.
McDermott International (NYSE:MDR) opened at 7.24 on Tuesday. McDermott International has a 52 week low of $6.68 and a 52 week high of $13.48. The stock’s 50-day moving average is $7.43 and its 200-day moving average is $8.66. The company’s market cap is $1.713 billion.
McDermott International (NYSE:MDR) last released its earnings data on Monday, August 5th. The company reported ($0.63) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.03 by $0.66. The company had revenue of $647.25 million for the quarter, compared to the consensus estimate of $757.87 million. During the same quarter last year, the company posted $0.22 earnings per share. McDermott International’s revenue was down 28.0% compared to the same quarter last year. On average, analysts predict that McDermott International will post $-0.40 earnings per share for the current fiscal year.
A number of other firms have also recently commented on MDR. Analysts at Howard Weil cut their price target on shares of McDermott International from $10.00 to $9.00 in a research note to investors on Thursday, August 29th. Separately, analysts at Robert W. Baird downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a research note to investors on Sunday, August 11th. Finally, analysts at Barclays cut their price target on shares of McDermott International from $11.00 to $10.00 in a research note to investors on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $10.71.
McDermott International, Inc (NYSE:MDR) is a engineering, procurement, construction and installation (EPCI) company.
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