McDermott International, Inc. (NYSE:MDR) Expected to Earn Q3 2017 Earnings of $0.24 Per Share
McDermott International, Inc. (NYSE:MDR) – Analysts at KeyCorp increased their Q3 2017 earnings per share (EPS) estimates for shares of McDermott International in a research report issued on Tuesday. KeyCorp analyst T. Afzal now anticipates that the oil and gas company will post earnings per share of $0.24 for the quarter, up from their prior estimate of $0.17.
A number of other equities analysts have also issued reports 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 restated a “hold” rating and issued a $7.00 target price (down previously from $8.00) on shares of McDermott International in a research note on Saturday, April 22nd. Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $7.75 target price for the company in a research note on Friday, April 28th. Howard Weil upgraded McDermott International from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 25th. Finally, Scotia Howard Weill upgraded McDermott International from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 25th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $8.29.
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Shares of McDermott International (NYSE MDR) opened at 6.90 on Thursday. The stock has a market cap of $1.96 billion, a PE ratio of 34.50 and a beta of 1.38. McDermott International has a 52-week low of $4.41 and a 52-week high of $8.33. The company’s 50-day moving average price is $6.97 and its 200-day moving average price is $6.96.
McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $788.20 million for the quarter, compared to analysts’ expectations of $856.54 million. McDermott International had a net margin of 2.95% and a return on equity of 5.55%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS.
Several institutional investors have recently added to or reduced their stakes in MDR. Bowling Portfolio Management LLC raised its position in McDermott International by 47.6% in the second quarter. Bowling Portfolio Management LLC now owns 165,503 shares of the oil and gas company’s stock worth $1,187,000 after buying an additional 53,390 shares during the last quarter. Strs Ohio bought a new position in McDermott International during the second quarter worth $501,000. Boston Advisors LLC raised its position in McDermott International by 7.7% in the second quarter. Boston Advisors LLC now owns 657,295 shares of the oil and gas company’s stock worth $4,713,000 after buying an additional 47,235 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in McDermott International during the second quarter worth $830,000. Finally, State of Alaska Department of Revenue bought a new position in McDermott International during the second quarter worth $401,000. Institutional investors and hedge funds own 73.98% of the company’s stock.
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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