McDermott International Inc. (MDR) Given “Outperform” Rating at Imperial Capital
McDermott International Inc. (NYSE:MDR)‘s stock had its “outperform” rating reissued by research analysts at Imperial Capital in a note issued to investors on Thursday.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $6.00 target price on the stock in a report on Friday, July 29th. Citigroup Inc. lifted their price target on shares of McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $4.41 price target on shares of McDermott International in a research note on Saturday, June 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.04.
McDermott International (NYSE:MDR) opened at 4.80 on Thursday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 400.00 and a beta of 1.39. The company has a 50-day moving average of $5.06 and a 200 day moving average of $4.65. McDermott International has a 12 month low of $2.20 and a 12 month high of $6.00.
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McDermott International (NYSE:MDR) last issued its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. The company had revenue of $706.60 million for the quarter, compared to analysts’ expectations of $753.43 million. During the same quarter last year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was down 32.5% on a year-over-year basis. On average, equities research analysts anticipate that McDermott International will post $0.13 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of McDermott International by 1.2% in the second quarter. Royal Bank of Canada now owns 287,638 shares of the company’s stock worth $1,421,000 after buying an additional 3,404 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of McDermott International by 44.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,641,228 shares of the company’s stock worth $13,048,000 after buying an additional 814,335 shares in the last quarter. Amalgamated Bank increased its stake in shares of McDermott International by 2.9% in the second quarter. Amalgamated Bank now owns 26,388 shares of the company’s stock worth $132,000 after buying an additional 736 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of McDermott International during the second quarter worth about $2,670,000. Finally, Legal & General Group Plc increased its stake in shares of McDermott International by 20.0% in the second quarter. Legal & General Group Plc now owns 411,287 shares of the company’s stock worth $2,024,000 after buying an additional 68,528 shares in the last quarter. Institutional investors own 78.97% of the company’s stock.
McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects.
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