McDermott International Short Interest Down 4.5% in July (MDR)
McDermott International (NYSE:MDR) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 61,442,632 shares, a decrease of 4.5% from the July 15th total of 64,327,596 shares, American Banking News reports. Currently, 26.1% of the company’s stock are short sold. Based on an average trading volume of 3,669,596 shares, the short-interest ratio is currently 16.7 days.
A number of analysts have recently weighed in on MDR shares. Analysts at Zacks reiterated a “neutral” rating on shares of McDermott International in a research note on Friday, August 8th. They now have a $7.50 price target on the stock. Separately, 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. Finally, 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. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. McDermott International currently has an average rating of “Hold” and an average target price of $7.34.
Shares of McDermott International (NYSE:MDR) opened at 7.43 on Tuesday. McDermott International has a one year low of $6.58 and a one year high of $9.36. The stock’s 50-day moving average is $7.5 and its 200-day moving average is $7.63. The company’s market cap is $1.766 billion.
McDermott International (NYSE:MDR) last posted its earnings results 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. On average, analysts predict that McDermott International will post $-0.45 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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