Shares of McDermott International, Inc. (NYSE:MDR) have received an average recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.26.

Several research analysts have weighed in on MDR shares. Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target for the company in a research note on Thursday, July 20th. BidaskClub upgraded McDermott International from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. KeyCorp restated a “hold” rating on shares of McDermott International in a research note on Friday, August 25th. TheStreet upgraded McDermott International from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. Finally, Scotiabank restated a “buy” rating and issued a $9.00 price target on shares of McDermott International in a research note on Friday, July 28th.

Several hedge funds and other institutional investors have recently bought and sold shares of MDR. BlackRock Inc. boosted its position in shares of McDermott International by 109.1% during the 2nd quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock valued at $252,397,000 after acquiring an additional 18,363,073 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of McDermott International by 31.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after acquiring an additional 7,129,111 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of McDermott International by 31.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,213,138 shares of the oil and gas company’s stock valued at $122,938,000 after acquiring an additional 4,409,387 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of McDermott International during the 2nd quarter valued at approximately $17,846,000. Finally, Bank of New York Mellon Corp boosted its position in shares of McDermott International by 138.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,939,387 shares of the oil and gas company’s stock valued at $28,246,000 after acquiring an additional 2,286,320 shares during the last quarter. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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Shares of McDermott International (NYSE MDR) traded up 0.624% during midday trading on Wednesday, reaching $7.255. 501,892 shares of the company were exchanged. The company has a 50 day moving average price of $6.66 and a 200-day moving average price of $6.63. McDermott International has a 12-month low of $4.96 and a 12-month high of $8.33. The stock has a market capitalization of $2.06 billion, a P/E ratio of 27.904 and a beta of 1.41.

McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, July 25th. 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). McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The business had revenue of $788.20 million during the quarter, compared to the consensus estimate of $856.54 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts forecast that McDermott International will post $0.42 earnings per share for the current fiscal year.

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.

Analyst Recommendations for McDermott International (NYSE:MDR)

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