McDermott International Price Target Increased to $10.00 by Analysts at Deutsche Bank (MDR)
Research analysts at Deutsche Bank lifted their target price on shares of McDermott International (NYSE:MDR) from $8.00 to $10.00 in a report released on Friday, StockRatingsNetwork reports. Deutsche Bank’s target price indicates a potential upside of 10.38% from the company’s current price.
Shares of McDermott International (NYSE:MDR) traded up 0.44% during mid-day trading on Friday, hitting $9.1001. 1,592,437 shares of the company’s stock traded hands. 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 $8.47 and a 200-day moving average of $7.94. The company’s market cap is $2.153 billion.
McDermott International (NYSE:MDR) last released its earnings data on Tuesday, November 5th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.24. The company had revenue of $686.86 million for the quarter, compared to the consensus estimate of $743.13 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was down 33.2% on a year-over-year basis. On average, analysts predict that McDermott International will post $-0.67 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of McDermott International in a research note to investors on Monday, December 30th. They now have a $9.25 price target on the stock. Separately, analysts at Stephens initiated coverage on shares of McDermott International in a research note to investors on Thursday, December 19th. They set an “overweight” rating on the stock. Finally, analysts at TheStreet downgraded shares of McDermott International from a “hold” rating to a “sell” rating in a research note to investors on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The company presently 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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