BidaskClub Upgrades McDermott International, Inc. (MDR) to Sell
McDermott International, Inc. (NYSE:MDR) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday.
A number of other equities research analysts have also recently commented on MDR. Scotiabank set a $9.00 target price on McDermott International and gave the stock a “hold” rating in a research note on Friday, March 31st. Deutsche Bank AG reissued a “hold” rating and issued a $7.00 target price (down from $8.00) on shares of McDermott International in a research note on Saturday, April 22nd. Zacks Investment Research raised McDermott International from a “hold” rating to a “strong-buy” rating and set a $7.75 target price on the stock in a research note on Friday, April 28th. Howard Weil raised McDermott International from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 25th. Finally, Scotia Howard Weill raised McDermott International from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. McDermott International currently has a consensus rating of “Buy” and an average price target of $8.19.
McDermott International (MDR) traded up 1.81% during trading on Tuesday, reaching $6.76. 1,643,285 shares of the company’s stock were exchanged. The stock has a market cap of $1.92 billion, a PE ratio of 33.80 and a beta of 1.44. The firm has a 50 day moving average of $6.46 and a 200-day moving average of $7.04. McDermott International has a 12 month low of $4.32 and a 12 month high of $8.33.
McDermott International (NYSE:MDR) last released its earnings results on Tuesday, April 25th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. McDermott International had a return on equity of 4.75% and a net margin of 2.40%. The firm had revenue of $519.40 million for the quarter, compared to analysts’ expectations of $689.30 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was down 28.8% on a year-over-year basis. On average, equities research analysts anticipate that McDermott International will post $0.42 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its stake in McDermott International by 13.0% in the first quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,000 shares during the period. Tudor Investment Corp ET AL boosted its stake in McDermott International by 8.4% in the first quarter. Tudor Investment Corp ET AL now owns 36,018 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 2,787 shares during the period. Baker Avenue Asset Management LP boosted its stake in McDermott International by 13.9% in the first quarter. Baker Avenue Asset Management LP now owns 116,414 shares of the oil and gas company’s stock valued at $786,000 after buying an additional 14,250 shares during the period. AQR Capital Management LLC boosted its stake in McDermott International by 67.6% in the first quarter. AQR Capital Management LLC now owns 1,015,198 shares of the oil and gas company’s stock valued at $6,853,000 after buying an additional 409,495 shares during the period. Finally, Highbridge Capital Management LLC acquired a new stake in McDermott International during the first quarter valued at approximately $1,934,000. 73.84% of the stock is currently owned by institutional investors.
McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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