McDermott International’s (MDR) “Outperform” Rating Reiterated at Imperial Capital
McDermott International Inc. (NYSE:MDR)‘s stock had its “outperform” rating reiterated by equities research analysts at Imperial Capital in a note issued to investors on Thursday.
Several other research firms also recently weighed in on MDR. Zacks Investment Research raised 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 research report on Friday, July 29th. Citigroup Inc. boosted their target price on shares of McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $4.41 target price on shares of McDermott International in a research report on Saturday, June 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. McDermott International presently has a consensus rating of “Hold” and an average price target of $5.04.
Shares of McDermott International (NYSE:MDR) opened at 4.80 on Thursday. The stock’s 50 day moving average is $5.06 and its 200 day moving average is $4.65. McDermott International has a 12 month low of $2.20 and a 12 month high of $6.00. The company has a market capitalization of $1.15 billion, a P/E ratio of 400.00 and a beta of 1.39.
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McDermott International (NYSE:MDR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. The firm had revenue of $706.60 million for the quarter, compared to the consensus estimate of $753.43 million. During the same quarter in the previous year, the firm earned $0.04 EPS. The company’s quarterly revenue was down 32.5% compared to the same quarter last year. On average, equities analysts predict that McDermott International will post $0.13 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. KCG Holdings Inc. purchased a new position in McDermott International during the second quarter valued at about $101,000. Ladenburg Thalmann Financial Services Inc. boosted its position in McDermott International by 1,121.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,159 shares of the company’s stock worth $102,000 after buying an additional 23,100 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in McDermott International by 2,863.2% in the second quarter. BNP Paribas Arbitrage SA now owns 20,683 shares of the company’s stock worth $102,000 after buying an additional 19,985 shares in the last quarter. Atria Investments LLC bought a new position in McDermott International during the second quarter worth $108,000. Finally, Ingalls & Snyder LLC bought a new position in McDermott International during the second quarter worth $121,000. Hedge funds and other institutional investors own 78.97% of the company’s stock.
About McDermott International
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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