McDermott International Upgraded to Neutral by HSBC (MDR)
McDermott International (NYSE:MDR) was upgraded by equities researchers at HSBC from an “underweight” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $7.00 price objective on the stock. HSBC’s price objective points to a potential upside of 0.65% from the company’s current price.
MDR has been the subject of a number of other recent research reports. Analysts at Credit Agricole reiterated an “underperform” rating on shares of McDermott International in a research note on Thursday. They now have a $7.25 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of McDermott International in a research note on Tuesday, April 1st. They now have a $6.30 price target on the stock, up previously from $6.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of McDermott International in a research note on Thursday, March 13th. They now have a $8.25 price target on the stock. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. McDermott International has a consensus rating of “Hold” and a consensus target price of $9.45.
Shares of McDermott International (NYSE:MDR) traded up 2.05% during mid-day trading on Monday, hitting $6.98. 4,420,325 shares of the company’s stock traded hands. McDermott International has a one year low of $6.68 and a one year high of $11.06. The stock’s 50-day moving average is $7.71 and its 200-day moving average is $7.99. The company’s market cap is $1.655 billion.
McDermott International (NYSE:MDR) last released its earnings data on Monday, March 3rd. The company reported ($1.37) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.15 by $1.52. The company had revenue of $517.00 million for the quarter, compared to the consensus estimate of $825.61 million. During the same quarter last year, the company posted $0.17 earnings per share. McDermott International’s revenue was down 48.1% compared to the same quarter last year. Analysts expect that McDermott International will post $-0.06 EPS for the current fiscal year.
McDermott International, Inc (NYSE:MDR) is a engineering, procurement, construction and installation (EPCI) company.
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