Zacks: Analysts Anticipate McDermott International, Inc. (MDR) Will Post Quarterly Sales of $973.51 Million
Analysts forecast that McDermott International, Inc. (NYSE:MDR) will report sales of $973.51 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for McDermott International’s earnings. The lowest sales estimate is $963.40 million and the highest is $983.62 million. McDermott International reported sales of $558.54 million in the same quarter last year, which indicates a positive year over year growth rate of 74.3%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, November 1st.
On average, analysts expect that McDermott International will report full-year sales of $973.51 million for the current financial year, with estimates ranging from $3.10 billion to $3.20 billion. For the next fiscal year, analysts expect that the company will report sales of $3.12 billion per share, with estimates ranging from $2.96 billion to $3.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for McDermott International.
McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). The company had revenue of $788.20 million during the quarter, compared to analysts’ expectations of $856.54 million. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. McDermott International’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share.
MDR has been the subject of several research analyst reports. TheStreet upgraded McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Scotiabank reiterated a “buy” rating and issued a $9.00 price objective on shares of McDermott International in a report on Friday, July 28th. BidaskClub upgraded McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Deutsche Bank AG reduced their price objective on McDermott International from $6.50 to $5.25 and set a “hold” rating for the company in a report on Tuesday. Finally, KeyCorp reiterated a “hold” rating on shares of McDermott International in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $8.22.
A number of large investors have recently made changes to their positions in the business. Aperio Group LLC boosted its position in McDermott International by 16.7% in the third quarter. Aperio Group LLC now owns 104,896 shares of the oil and gas company’s stock worth $763,000 after purchasing an additional 15,019 shares during the last quarter. Boston Advisors LLC boosted its position in McDermott International by 14.2% in the third quarter. Boston Advisors LLC now owns 750,595 shares of the oil and gas company’s stock worth $5,457,000 after purchasing an additional 93,300 shares during the last quarter. Meeder Asset Management Inc. boosted its position in McDermott International by 234.0% in the third quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 11,310 shares during the last quarter. Hillcrest Asset Management LLC purchased a new position in McDermott International in the second quarter worth about $6,178,000. Finally, Koch Industries Inc. boosted its position in McDermott International by 711.3% in the second quarter. Koch Industries Inc. now owns 164,323 shares of the oil and gas company’s stock worth $144,000 after purchasing an additional 144,069 shares during the last quarter. 84.97% of the stock is currently owned by institutional investors and hedge funds.
McDermott International (NYSE MDR) opened at 6.15 on Thursday. McDermott International has a one year low of $4.96 and a one year high of $8.33. The company has a 50 day moving average of $6.82 and a 200-day moving average of $6.63. The stock has a market capitalization of $1.75 billion, a P/E ratio of 23.65 and a beta of 1.41.
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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