McDermott International, Inc. (NYSE:MDR) announced its earnings results on Tuesday. The oil and gas company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.03, Morningstar.com reports. The company had revenue of $788.20 million for the quarter, compared to analysts’ expectations of $856.54 million. McDermott International had a return on equity of 4.75% and a net margin of 2.40%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. McDermott International updated its FY17 guidance to ~$0.42 EPS.

McDermott International (NYSE MDR) opened at 7.09 on Tuesday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 35.45 and a beta of 1.38. The stock has a 50 day moving average of $6.93 and a 200 day moving average of $6.97. McDermott International has a 1-year low of $4.41 and a 1-year high of $8.33.

A number of hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its stake in McDermott International by 4.6% in the first quarter. Teacher Retirement System of Texas now owns 19,136 shares of the oil and gas company’s stock worth $129,000 after buying an additional 849 shares during the period. HighTower Advisors LLC increased 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 worth $117,000 after buying an additional 2,000 shares during the period. Tudor Investment Corp ET AL increased 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 worth $243,000 after buying an additional 2,787 shares during the period. Bank of Montreal Can increased its stake in McDermott International by 0.5% in the second quarter. Bank of Montreal Can now owns 727,206 shares of the oil and gas company’s stock worth $5,214,000 after buying an additional 3,489 shares during the period. Finally, Virginia Retirement Systems ET AL increased its stake in McDermott International by 2.1% in the first quarter. Virginia Retirement Systems ET AL now owns 268,183 shares of the oil and gas company’s stock worth $1,810,000 after buying an additional 5,483 shares during the period. 73.98% of the stock is owned by hedge funds and other institutional investors.

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Several brokerages have weighed in on MDR. BidaskClub lowered shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Monday. ValuEngine lowered shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Scotiabank reaffirmed a “hold” rating on shares of McDermott International in a research note on Thursday, April 27th. Deutsche Bank AG reaffirmed a “hold” rating and set a $7.00 target price (down previously from $8.00) on shares of McDermott International in a research note on Saturday, April 22nd. Finally, Howard Weil raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 25th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $7.89.

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.

Earnings History for McDermott International (NYSE:MDR)

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