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McDermott International (NYSE:MDR) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 59,746,055 shares, an increase of 31.5% from the March 31st total of 45,417,762 shares, reports. Approximately 25.4% of the company’s shares are sold short. Based on an average trading volume of 10,245,822 shares, the days-to-cover ratio is presently 5.8 days.

A number of research firms have recently commented on MDR. Analysts at HSBC upgraded shares of McDermott International from an “underweight” rating to a “neutral” rating in a research note on Monday, April 14th. They now have a $7.00 price target on the stock. Separately, analysts at Credit Agricole reiterated an “underperform” rating on shares of McDermott International in a research note on Thursday, April 10th. They now have a $7.25 price target on the stock. Finally, 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. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $9.45.

McDermott International (NYSE:MDR) opened at 7.14 on Thursday. McDermott International has a 52-week low of $6.68 and a 52-week high of $10.31. The stock’s 50-day moving average is $7.26 and its 200-day moving average is $7.96. The company’s market cap is $1.693 billion.

McDermott International (NYSE:MDR) last announced its earnings results on Wednesday, May 7th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.12) by $0.09. The company had revenue of $603.80 million for the quarter, compared to the consensus estimate of $664.56 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was down 25.2% on a year-over-year basis. On average, analysts predict that McDermott International will post $-0.10 earnings per share for the current fiscal year.

McDermott International, Inc (NYSE:MDR) is a engineering, procurement, construction and installation (EPCI) company.

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