McDermott International Receives Average Rating of “Hold” from Brokerages (NYSE:MDR)
Shares of McDermott International (NYSE:MDR) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are currently covering the company, Analyst Ratings Net reports. Five analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.13.
McDermott International (NYSE:MDR) opened at 7.08 on Friday. 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 $7.46 and its 200-day moving average is $7.54. The company’s market cap is $1.682 billion. McDermott International also was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 58,846,769 shares, a decline of 4.2% from the July 31st total of 61,442,632 shares. Approximately 25.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,552,214 shares, the short-interest ratio is presently 16.6 days.
McDermott International (NYSE:MDR) last announced its earnings results on Monday, August 4th. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.63) earnings per share. McDermott International’s revenue was down 26.4% compared to the same quarter last year. Analysts expect that McDermott International will post $-0.45 EPS for the current fiscal year.
A number of research firms have recently commented on MDR. 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.
McDermott International, Inc (NYSE:MDR) is a engineering, procurement, construction and installation (EPCI) company.
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