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Analysts at Alembic Global Advisors initiated coverage on shares of McDermott International (NYSE:MDR) in a research report issued to clients and investors on Thursday. The firm set a “neutral” rating and a $8.00 price target on the stock. Alembic Global Advisors’ price objective indicates a potential upside of 2.70% from the company’s current price.

McDermott International (NYSE:MDR) traded up 1.03% on Thursday, hitting $7.87. 1,153,901 shares of the company’s stock traded hands. McDermott International has a 52 week low of $6.58 and a 52 week high of $9.36. The stock’s 50-day moving average is $7.18 and its 200-day moving average is $7.88. The company’s market cap is $1.869 billion.

McDermott International (NYSE:MDR) last released its earnings data 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 $-0.40 earnings per share for the current fiscal year.

In other McDermott International news, Director John F. Bookout III acquired 50,000 shares of McDermott International stock on the open market in a transaction dated Tuesday, June 10th. The stock was purchased at an average price of $7.71 per share, for a total transaction of $385,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of McDermott International in a research note on Friday, May 23rd. They now have a $7.50 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of McDermott International from a “sell” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of McDermott International in a research note on Thursday, May 8th. They now have a $7.00 price target on the stock, down previously from $8.00. Five research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. McDermott International currently has an average rating of “Hold” and an average target price of $8.47.

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

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