McDermott International (MDR) Releases Quarterly Earnings, Misses Estimates By $0.24 EPS
McDermott International (NYSE:MDR) posted its quarterly earnings results on Tuesday. The company reported ($0.27) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.24, AR Network reports. The company had revenue of $686.86 million for the quarter, compared to the consensus estimate of $743.13 million. During the same quarter last year, the company posted $0.21 earnings per share. McDermott International’s revenue was down 33.2% compared to the same quarter last year.
McDermott International (NYSE:MDR) opened at 7.42 on Tuesday. McDermott International has a 1-year low of $6.68 and a 1-year high of $13.48. The stock has a 50-day moving average of $7.33 and a 200-day moving average of $8.33. The company’s market cap is $1.755 billion.
MDR has been the subject of a number of recent research reports. Analysts at Macquarie downgraded shares of McDermott International from an “outperform” rating to an “underperform” rating in a research note to investors on Friday, October 18th. On a related note, analysts at HSBC raised their price target on shares of McDermott International from $6.70 to $6.75 in a research note to investors on Wednesday, October 16th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of McDermott International in a research note to investors on Wednesday, October 16th. They now have a $7.50 price target on the stock. 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.27.
McDermott International, Inc (NYSE:MDR) is a engineering, procurement, construction and installation (EPCI) company.
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