Zacks: Analysts Expect McDermott International, Inc. (NYSE:MDR) to Post $0.16 Earnings Per Share
Equities research analysts expect McDermott International, Inc. (NYSE:MDR) to report $0.16 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for McDermott International’s earnings. The highest EPS estimate is $0.17 and the lowest is $0.14. McDermott International reported earnings per share of $0.08 during the same quarter last year, which suggests a positive year over year growth rate of 100%. The company is expected to announce its next quarterly earnings results before the market opens on Tuesday, July 25th.
On average, analysts expect that McDermott International will report full year earnings of $0.43 per share for the current financial year, with EPS estimates ranging from $0.41 to $0.45. For the next financial year, analysts forecast that the business will report earnings of $0.43 per share, with EPS estimates ranging from $0.41 to $0.46. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for McDermott International.
McDermott International (NYSE:MDR) last announced its quarterly earnings results on Tuesday, April 25th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.07. McDermott International had a net margin of 2.40% and a return on equity of 4.75%. The company had revenue of $519.40 million for the quarter, compared to analysts’ expectations of $689.30 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. McDermott International’s quarterly revenue was down 28.8% on a year-over-year basis.
A number of equities research analysts recently weighed in on MDR shares. Scotiabank set a $9.00 price objective on shares of McDermott International and gave the company a “hold” rating in a report on Friday, March 31st. Deutsche Bank AG reiterated a “hold” rating and set a $7.00 price objective (down previously from $8.00) on shares of McDermott International in a report on Saturday, April 22nd. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $7.75 target price on the stock in a research report on Friday, April 28th. Howard Weil raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 25th. Finally, Scotia Howard Weill raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 25th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. McDermott International currently has a consensus rating of “Buy” and a consensus target price of $7.89.
Hedge funds and other institutional investors have recently modified their holdings of the company. Hennessy Advisors Inc. purchased a new position in shares of McDermott International during the first quarter worth about $3,312,000. Creative Planning increased its position in shares of McDermott International by 274.0% in the first quarter. Creative Planning now owns 155,625 shares of the oil and gas company’s stock worth $1,050,000 after buying an additional 114,016 shares during the last quarter. Fox Run Management L.L.C. increased its position in shares of McDermott International by 34.5% in the first quarter. Fox Run Management L.L.C. now owns 42,500 shares of the oil and gas company’s stock worth $287,000 after buying an additional 10,900 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of McDermott International during the first quarter worth about $1,934,000. Finally, Koch Industries Inc. increased its position in shares of McDermott International by 97.0% in the first quarter. Koch Industries Inc. now owns 20,254 shares of the oil and gas company’s stock worth $137,000 after buying an additional 9,974 shares during the last quarter. 73.98% of the stock is currently owned by hedge funds and other institutional investors.
McDermott International (NYSE MDR) opened at 7.1448 on Monday. The company’s 50 day moving average is $6.88 and its 200 day moving average is $6.98. McDermott International has a 12 month low of $4.41 and a 12 month high of $8.33. The stock has a market cap of $2.03 billion, a PE ratio of 35.7240 and a beta of 1.38.
About McDermott International
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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