Analysts predict that McDermott International, Inc. (NYSE:MDR) will report $973.51 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for McDermott International’s earnings, with the highest sales estimate coming in at $983.62 million and the lowest estimate coming in at $963.40 million. McDermott International posted sales of $558.54 million during the same quarter last year, which would indicate a positive year over year growth rate of 74.3%. The business is expected to issue its next quarterly earnings results on Tuesday, October 24th.

According to Zacks, analysts expect that McDermott International will report full year sales of $973.51 million for the current year, with estimates ranging from $3.10 billion to $3.20 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.12 billion per share, with estimates ranging from $2.96 billion to $3.34 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow McDermott International.

McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $788.20 million for the quarter, compared to analyst estimates 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 for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share.

Several research firms recently issued reports on MDR. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a research report on Thursday, July 20th. BidaskClub upgraded shares of McDermott International from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Scotiabank reiterated a “buy” rating and set a $9.00 price target on shares of McDermott International in a research report on Friday, July 28th. TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a research report on Tuesday, July 25th. Finally, Scotia Howard Weill upgraded shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $8.29.

Shares of McDermott International (NYSE:MDR) opened at 6.19 on Friday. The firm has a market capitalization of $1.76 billion, a P/E ratio of 23.81 and a beta of 1.37. The firm’s 50-day moving average price is $7.03 and its 200-day moving average price is $6.90. McDermott International has a 12-month low of $4.41 and a 12-month high of $8.33.

A number of hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas raised its stake in shares of McDermott International by 2.4% in the second quarter. Teacher Retirement System of Texas now owns 19,593 shares of the oil and gas company’s stock worth $140,000 after buying an additional 457 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of McDermott International by 2.0% in the second quarter. Federated Investors Inc. PA now owns 23,565 shares of the oil and gas company’s stock worth $169,000 after buying an additional 468 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of McDermott International by 3.7% in the second quarter. ProShare Advisors LLC now owns 29,734 shares of the oil and gas company’s stock worth $213,000 after buying an additional 1,074 shares in the last quarter. Pitcairn Co. raised its stake in shares of McDermott International by 3.1% in the second quarter. Pitcairn Co. now owns 64,663 shares of the oil and gas company’s stock worth $464,000 after buying an additional 1,922 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 73.82% of the company’s stock.

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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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Earnings History and Estimates for McDermott International (NYSE:MDR)

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