McDermott International Receives “Neutral” Rating from Zacks (MDR)
McDermott International (NYSE:MDR)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Friday. They currently have a $7.50 target price on the stock. Zacks‘s target price indicates a potential upside of 3.31% from the company’s current price.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on McDermott International. Given its geographic footprint in high-growth regions, technology leadership and efficient execution skills, MDR is poised to benefit from strong industry fundamentals for offshore construction activities through 2014 and beyond. We believe order flow and backlog for its products and services will continue to be healthy and trend higher in the near-to-medium term. Additional positives include growing international operations and a solid balance sheet. However, several factors will continue to weigh on results, including steep operating costs, an erratic earnings trend over the last few quarters and uncertainty regarding the timing of big awards. As such, we expect its growth potential to be restrained.”
MDR has been the subject of a number of other recent research reports. Analysts at Tigress Financial initiated coverage on shares of McDermott International in a research note on Wednesday, July 16th. They set a “neutral” rating on the stock. Separately, 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. 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 investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. McDermott International presently has an average rating of “Hold” and an average price target of $7.61.
McDermott International (NYSE:MDR) traded up 0.58% on Friday, hitting $7.302. The stock had a trading volume of 1,152,116 shares. 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 $7.74 and a 200-day moving average of $7.70. The company’s market cap is $1.735 billion.
McDermott International (NYSE:MDR) last released its earnings data on Monday, August 4th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.17) by $0.12. The company had revenue of $476.00 million for the quarter, compared to the consensus estimate of $651.31 million. During the same quarter in the prior year, the company posted ($0.63) earnings per share. The company’s quarterly revenue was down 26.4% on a year-over-year basis. Analysts expect that McDermott International will post $-0.41 EPS for the current fiscal year.
McDermott International, Inc (NYSE:MDR) is a engineering, procurement, construction and installation (EPCI) company.
To view Zacks’ full report, visit Zacks’ official website.
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