Share on StockTwits

Shares of McDermott International (NYSE:MDR) saw a large increase in short interest during the month of June. As of June 13th, there was short interest totalling 62,224,086 shares, an increase of 13.1% from the May 30th total of 55,030,244 shares, AnalystRatingsNetwork.com reports. Currently, 26.5% of the shares of the stock are sold short. Based on an average trading volume of 3,636,238 shares, the short-interest ratio is currently 17.1 days.

MDR has been the subject of a number of recent research reports. Analysts at Alembic Global Advisors initiated coverage on shares of McDermott International in a research note on Thursday, June 12th. They set a “neutral” rating and a $8.00 price target on the stock. Separately, 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. Finally, 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. Five equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.34.

McDermott International (NYSE:MDR) opened at 7.98 on Friday. McDermott International has a 52-week low of $6.58 and a 52-week high of $9.36. The stock has a 50-day moving average of $7.64 and a 200-day moving average of $7.89. The company’s market cap is $1.896 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 $-0.39 earnings per share for the current fiscal year.

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

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.